Glenfarne and POSCO have announced an agreement to advance a strategic partnership for Alaska LNG. The liquefied natural gas (LNG) project involves the construction of a 20 million tonnes per annum (mtpa) export terminal and an associated pipeline.
According to the agreement, POSCO will supply a significant portion of the steel required for the 807-mile, 42-inch pipeline. It also includes initial terms for a 20-year heads of agreement (HoA) for 1mtpa of LNG offtake, making this the first HoA for the project.
Glenfarne aims to announce a final investment decision (FID) on Alaska LNG late this year. The company holds a 75% stake in the project, while Alaska Gasline Development Corporation (AGDC) owns the remaining 25%.
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