Glenfarne Secures ConocoPhillips Supply Deal for Alaska LNG
Glenfarne Alaska LNG and ConocoPhillips (COP) Alaska signed a gas sales precedent agreement to supply natural gas produced on Alaska's North Slope to phase one of the upcoming Alaska LNG Project, marking another step toward a final investment decision on the long-delayed development.According to the company statement on Monday, with this 30-year agreement, it has now secured enough precedent agreements to support phase one of the project.The company noted that it now had agreements with all three major producers in Alaska's North Slope, including Exxon Mobil (XOM), Hilcorp Alaska and Pantheon Resources.The project is being developed in two distinct, financially independent phases, with phase one comprising a 739-mile, 42-inch pipeline to deliver gas to consumers in Alaska, aiming to address looming supply shortages in the region."Today's milestone agreement establishes the commercial terms for ConocoPhillips to supply gas and help Phase One of Alaska LNG provide energy security for Alaska," Glenfarne Alaska LNG President Adam Prestidge said.