Anchorage: At least two South Korean companies have participated in the strategic partner selection process orchestrated by Glenfarne Group, the lead private developer of an extensive Alaska liquefied natural gas (LNG) project.
According to Yonhap News Agency, Glenfarne, a private joint developer of the project valued at an estimated US$44 billion, reported that over 50 companies from South Korea, the United States, Japan, Taiwan, Thailand, India, and the European Union were involved in the first round of its strategic partner selection process. This event was hosted by Glenfarne's subsidiary, Glenfarne Alaska LNG LLC.
Glenfarne has not disclosed further details regarding the companies involved but noted that potential partners have shown formal interest in various partnerships related to the project. These partnerships encompass equipment and material supply, services, investment, and customer agreements, with a collective value of US$115 billion.
The initiative has seen significant support from the U.S. government, with President Donald Trump's administration urging Seoul, Tokyo, and other Asian nations to invest in the project. The Alaska LNG project aims to construct a 1,300-kilometer pipeline connecting the North Slope-a massive, confirmed reserve of natural gas-to southern Alaska for export purposes.
In South Korea, the government is considering the country's participation in the project amidst ongoing trade negotiations with Washington concerning U.S. tariffs and other economic cooperation matters. Currently, a South Korean delegation, including officials from the industry ministry and the state-run Korea Gas Corp., is visiting Anchorage to attend the Alaska Sustainable Energy Conference at the invitation of state Governor Mike Dunleavy.