Glenfarne Group announced that more than 50 companies have shown formal interest in the Alaska LNG pipeline investment project. These firms, from the US, Japan, Korea, Taiwan, Thailand, India, and the European Union, expressed support totaling $115 billion.
Glenfarne revealed the news just hours before Trump cabinet officials spoke at the Alaska Sustainable Energy Conference in Anchorage. Interior Secretary Doug Burgum said President Trump has prioritized the LNG pipeline and expects swift, high-quality completion.
Alaska Governor Mike Dunleavy and Senator Dan Sullivan echoed their long-standing support for the proposed gas pipeline and infrastructure. However, longtime energy analyst Larry Persily says no signed contracts currently support Glenfarne’s expressions of interest.
He stressed that building a massive LNG project requires buyers who commit to purchasing gas for at least 15 to 20 years. Currently, Glenfarne is working with Australian engineering to support private and federal investments.
The Alaska Gasline Development Corporation previously estimated the total cost of pipelines and facilities to be between $38 and $44 billion. However, Persily doubts that estimate and believes real construction costs could exceed the projections by several billion dollars.
Secretary of Energy Chris Wright said loan guarantees from the Department of Energy remain a possible funding option, though unconfirmed. Sullivan insists the pipeline could reduce the trade deficit by 410 billion and generate thousands of new jobs.
