Alaska LNG Project

He says bringing the federal government on to the project could “dramatically lower the cost of capital.”

PTT Public Company Limited signed an agreement for “strategic participation” in the project. If the agreement evolves into a binding contract, the company would be on the hook for 2 million tonnes of LNG per year for 20 years.

Glenfarne’s founder and CEO says he’s taking the project one step at a time.

That’s as the board of the state-run Alaska Gasline Development Corp. gave its president permission to sign an agreement with Houston- and New York-based pipeline developer Glenfarne to shepherd the $44 billion Alaska LNG Project to a final investment decision.

Taiwanese President Lai Ching-te said Alaska gas is conveniently located and a source of high-quality natural gas.

Different versions of the Alaska LNG project have been discussed in Alaska for decades, and there are longstanding questions about how it would pencil out.

Frank Richards is the president of the Alaska Gasline Development Corporation. The state agency is spearheading work on the $44 billion project, which would move natural gas from the North Slope through an 800-mile pipeline to Nikiski.

It isn’t the first time the U.S. has announced project progress through an agreement with another country.

AGDC won’t release the name of the company until a final agreement is reached.

The money will act as a sort of insurance policy for whichever company might take on the work.