Dunleavy calls in from Tokyo for international press conference on LNG developments

ANCHORAGE, Alaska (KTUU) – In a press conference on Thursday evening, Governor Mike Dunleavy described meetings with several Asian countries to discuss liquified natural gas (LNG) projects as positive, including a letter of intent that was signed in Taiwan.

Also, officials from Glenfarne, a privately held developer, owner, and operator of energy infrastructure assets, discussed their new majority ownership of Alaska LNG.

Following the Alaska Gasline Development Corporation Board of Directors meeting, Dunleavy, AGDC President Frank Richards, and Glenfarne Group CEO/Founder Brendan Duval seemed hopeful about the future of LNG projects but did not break any major updates.

According to Glenfarne, Alaska LNG is designed to deliver North Slope natural gas to Alaskans and Alaska utilities and export 20 million tonnes of LNG per year.

Recently, the Taiwanese CPC corporation signed a non-binding letter of intent (LOI) with Alaska LNG Project, but Dunleavy said during the press conference that it’s a signal to more permanent agreements.

“Some people you know will say that an LOI is not really that much; it’s the start off, it’s the kickoff of deeper conversation,” Dunleavy said. “So things are being set up to work through the elements that were laid out … by working through those elements for the purchase of six million tons of LNG from Alaska, as well as possible investment.”

In a press release sent Thursday, Glenfarne wrote they are divesting 75% in 8 Star Alaska, a subsidiary AGDC created to hold and manage all Alaska LNG assets.

Duval, with Glenfarne, spoke to the anticipated phases involved with the project at the press conference: “There’s typically a three-step process in megaprojects, which is launching the final feed study, then announcing final investment decision and then Commencement of Operation State — COD.”

According to Glenfarne’s recent press release, which cites the steadily declining gas production from Cook Inlet, they plan to immediately prioritize the development and final investment decision of pipeline infrastructure to deliver North Slope gas to Alaskans as soon as possible.

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