Alaska LNG, majority owned and developed by Glenfarne Alaska LNG, LLC, and JERA Co., Inc., Japan’s largest power generation company, signed a Letter of Intent for the sale of one million tonnes per annum of liquefied natural gas from the Alaska LNG Project over a 20-year term on a Free-on-Board basis, according to the company's release.
The 20-MTPA Alaska LNG project is the only federally authorized LNG export project on the U.S. Pacific Coast and is a joint venture between Glenfarne and the Alaska Gasline Development Corporation.
Since March 2025, when Glenfarne became a 75% shareholder and lead developer, it has secured preliminary commercial agreements for more than half of the project’s third-party offtake capacity, including deals with CPC in Taiwan and PTT in Thailand. Negotiations to convert these agreements into binding contracts are ongoing.
U.S. Secretary of Energy Chris Wright stated, “Today’s announcement by JERA and Glenfarne is another important step forward for the Alaska LNG project. Alaska LNG will not only be one of the greatest energy infrastructure projects in our nation’s history, but also provides enormous energy security to the United States and our allies.”
According to an analysis based on Department of Energy methodology, Alaska LNG could reduce global CO2 emissions by up to 77 million tonnes per year by offsetting coal use in Asia and through lower shipping emissions due to its location. Glenfarne is advancing the project in phases, with a domestic pipeline as the first stage and an LNG export terminal as the second. Final investment decisions are targeted for late 2025 and 2026 respectively. Glenfarne’s total permitted LNG development portfolio across North America amounts to 32.8 MTPA, including projects in Alaska, Texas, and Louisiana.
Glenfarne Group, LLC is a privately held company incorporated in the United States. It develops, owns, and operates energy infrastructure assets. The group’s business activities are structured into three areas: global LNG solutions, grid stability, and renewables. Glenfarne operates through subsidiaries in North and South America and maintains international offices in Europe and Asia.
JERA Co., Inc. is a joint venture between Tokyo Electric Power Company Holdings, Inc. and Chubu Electric Power Co., Inc. Established in 2015, it operates as Japan’s largest power generation company. JERA engages across the entire energy value chain, including fuel procurement, transportation, and electricity generation. The company has set a target of achieving net-zero CO2 emissions from its operations by 2050.