Glenfarne Alaska LNG, a subsidiary of the Glenfarne Group, signed a cooperation agreement with PTT Public Company Limited, Thailand’s leading energy company. This agreement includes the purchase of 2 million tons per year of liquefied natural gas from the Alaska LNG project for 20 years.
The LNG supply project
The signing of the agreement had the institutional backing of the Thai government and the U.S. ambassador to Thailand. This commitment allows PTT to secure a reliable source of LNG in the long term, strengthening its supply diversification strategy in a complex geopolitical context.
[post_relacionado]This development is strategically located, the Alaska LNG project stands out for its proximity to Asia and lower logistics costs compared to other U.S. terminals. With a projected capacity of 20 MTPA, the project includes a 1297 km pipeline to be built in two phases. This will supply both Alaska’s domestic demand and the Asian market.
BBB+ investment-grade PTT secures new source of LNG supply LNG supply outside off conventional routes. The agreement with Glenfarne mitigates risks associated with conflict zones and increases the resilience of Thai supply.
With this partnership, Glenfarne reserves 50% of the Alaska LNG project’s available capacity for sale to third parties. On the other hand, the company is advancing in other developments such as Texas LNG and Magnolia LNG, consolidating a presence in LNG infrastructure in the Americas.
Glenfarne is working with pipeline contractors and Worley to finalize the engineering of the project and make a final investment decision. In addition, it expects this alliance with PTT to accelerate the execution schedule, generating employment and economic activity in Alaska.
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Source and photo: Glenfarne Group