Glenfarne Subsidiary Signs Preliminary Agreement with Chugach for Alaska Natural Gas Supply

en.Wedoany.com Reported - Glenfarne subsidiary Glenfarne Alaska LNG has signed a non-binding letter of intent with Chugach, outlining key terms for negotiations on supplying North Slope natural gas to Chugach. The company stated that both parties will continue negotiations to ensure "low-cost" energy for Alaska residents.

Glenfarne, which became the majority stakeholder in the Alaska LNG project last year, is advancing the project in two financially independent phases to accelerate execution. The first phase includes a 739-mile (1,287 km) pipeline, while the second phase will add an LNG liquefaction terminal in Nikiski and related infrastructure for exporting 20 million tonnes per year of LNG. The company recently revealed that the total cost for these two phases is estimated at up to $54.5 billion.

Glenfarne has also signed a memorandum of understanding with labor unions to prioritize hiring Alaska workers for construction and related work on the planned Alaska LNG project. The company stated that Alaska LNG is expected to create 12,000 construction jobs.

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