Glenfarne’s Alaska LNG said on Monday it had signed a long-term natural gas supply deal with ConocoPhillips and that it now had agreements for enough volumes to support a final investment decision for Phase One of its project and meet Alaska’s in-state natural gas needs.
The company said the 30-year agreement would supply natural gas produced on Alaska’s North Slope for Phase One of the Alaska LNG project.
Phase One includes a 739-mile, 42-inch pipeline to transport natural gas to Alaska consumers as the state faces looming supply shortfalls from declining Cook Inlet production. Phase Two would add LNG export facilities in Nikiski.
Alaska LNG now has agreements with ConocoPhillips, Exxon Mobil and Hilcorp Alaska, as well as Great Bear Pantheon, a unit of Pantheon Resources.
(Reporting by Pranav Mathur in Bengaluru; Editing by Tasim Zahid)