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any or all of the three 8 Star Alaska sub- projects.” Alaska Gov. Mike Dunleavy was en- thusiastic about the agreement. He re- cently was in Asia with AGDC and Glen- farne officials to meet with government and business leaders. “Today (March 27) is a historic day for Alaska,” the gover- nor said. “Oil was discovered in Prudhoe Bay almost exactly 57 years ago, and since then, Alaskans have never given up on finding a way to also benefit from our North Slope natural gas. “Alaska has made a significant in- vestment to develop Alaska LNG to the point where we can engage Glenfarne, a well-qualified industry leader, to bring this great project to the finish line. Alas- ka LNG will strengthen the U.S. geo- strategic position in the North Pacific, provide vital energy security for our residents, our military bases, our busi- nesses, and our Asian allies, and unlock billions in economic benefit at home and abroad.”
Duval echoed the governor’s state- ments. “Glenfarne’s financial, project man- agement and commercial expertise is well matched to lead this vital project forward,” he said. “Alaska LNG will provide desperately needed energy security and natural gas cost savings for Alaskans and give Glen- farne unmatched flexibility to simul- taneously serve LNG markets in both Asia and Europe through our three LNG projects." Glenfarne strongly believes in the benefit of partnering with the commu- nities where we work, and we are already building our Alaska team to bring Alas- ka LNG to life.” AGDC President Frank Richards said: “I’m incredibly proud of the ADGC team that has worked over the past 11 years to develop Alaska LNG. Through persistence, hard work, and determi- nation, Alaska LNG has successfully advanced through the design and per- mitting gauntlet to ignite global market
momentum and attract a world-class de- veloper.” AGDC and Glenfarne executed a let- ter of intent in June 2024 and an exclu- sive term sheet in December in advance of the March 27 binding agreement. Glenfarne is the owner of Texas LNG, which recently announced that its ca- pacity is fully sold out and that Kiewit has joined the project as its EPC con- tractor. A final investment decision in Texas LNG will come later this year. Glenfarne’s affiliate is also the larg- est importer of LNG into Colombia and owns Magnolia LNG, a late-stage LNG export project located in Lake Charles, La. Beyond LNG, Glenfarne owns 50 op- erating assets in the energy sector across five countries. Together with Alaska LNG, Glen- farne’s permitted LNG portfolio totals 32.8 million tons per year of LNG ca- pacity under development, Duval said. Alaska LNG consists of 20 million tons per year of that expected capacity.
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