Glenfarne Alaska LNG LLC mentioned that Thailand’s PTT Public Firm Restricted has signed a cooperation settlement for strategic participation within the Alaska LNG challenge.
The cooperation settlement defines the method for Alaska LNG and PTT to maneuver towards definitive agreements for partnership on Alaska LNG, together with long-term liquefied pure gasoline (LNG) offtake.
The settlement consists of the potential procurement of two million metric tons each year (mtpa) of LNG from Alaska LNG over a 20-year time period, Glenfarne mentioned in a press release.
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“Glenfarne and Alaska LNG are happy that PTT and the Thai authorities have realized the strategic safety, value, and stability benefits supplied by the Alaska LNG challenge,” Glenfarne Alaska LNG President Adam Prestidge mentioned.
“With as we speak’s and beforehand introduced agreements, Alaska LNG has now reserved 50 % of its accessible third-party LNG offtake capability to funding grade counterparties, and the challenge has overwhelming curiosity from further counterparties globally,” Prestidge added.
“Latest occasions within the Center East as soon as once more underscore the numerous want for Alaska LNG that comes from a safe, secure, and plentiful supply with out traversing by way of doubtlessly contested waters,” Glenfarne CEO Brendan Duval mentioned.
“This settlement with PTT additional symbolizes Alaska LNG’s large momentum, nicely on its approach to turning into a actuality that can clear up Alaska’s pure gasoline scarcity whereas offering jobs, enterprise alternatives, and elevated financial improvement for Alaska residents, companies, and navy amenities,” Duval added.
The Alaska LNG challenge consists of an 807-mile, 42-inch pipeline able to transporting sufficient pure gasoline to fulfill each Alaska’s home wants and provide the complete 20-mtpa Alaska LNG export facility, the Glenfarne Group LLC subsidiary mentioned.
The pipeline might be inbuilt two impartial, financially viable phases. Part one will ship pure gasoline roughly 765 miles from the North Slope to the Anchorage area. Part two provides compression tools and roughly 42 miles of pipeline underneath the Prepare dinner Inlet to the Alaska LNG Export Facility in Nikiski, which might be constructed concurrently the LNG export facility, in accordance with the discharge.
Glenfarne mentioned it’s actively engaged with pipeline contractors and partnering with Worley to finish the ultimate engineering to assist a closing funding determination (FID) for the home pipeline portion of the challenge. The corporate said it additionally continues to progress its strategic companion course of for Alaska LNG together with partnerships associated to tools and materials provide, providers, funding, and buyer agreements.
“Alaska LNG’s financial and transport fundamentals enable it to ship LNG into Asia at costs which can be decrease than Henry Hub pricing from the U.S. Gulf Coast,” Glenfarne mentioned.
“The challenge’s absolutely permitted standing, shut proximity, power safety advantages, and strong federal, state, and native stakeholder assist additional improve the worth proposition for Asian LNG patrons,” the corporate famous.
Alaska LNG is held underneath 8 Star Alaska LLC, a three way partnership between Glenfarne Alaska LNG, the bulk proprietor and lead developer of Alaska LNG, and Alaska Gasline Growth Company.
Glenfarne Group can be the proprietor of Texas LNG, which lately introduced that its capability is absolutely offered out, with an FID anticipated later within the yr, in accordance with the discharge.
Glenfarne Group mentioned it owns 60 working belongings within the power sector throughout 5 nations. Along with Alaska LNG, its permitted LNG portfolio totals 32.8 mtpa of capability underneath improvement.
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