HOUSTON (dpa-AFX) - Glenfarne Alaska LNG LLC, a unit of Glenfarne Group, and ConocoPhillips Alaska (COP) said on Monday that they have signed a gas sales precedent agreement to supply natural gas from Alaska's North Slope for Phase One of the Alaska LNG project.
Glenfarne said it is developing the Alaska LNG project in two standalone phases to accelerate execution. Phase One includes a 739-mile pipeline designed to transport natural gas to consumers across Alaska, while Phase Two will add LNG export facilities in Nikiski.
The companies said the 30-year agreement gives Alaska LNG sufficient gas supply commitments to support a final investment decision for Phase One and meet the state's long-term energy needs.
Glenfarne added that Alaska LNG now has agreements in place with all major North Slope producers, including ConocoPhillips, Exxon Mobil Corporation, Hilcorp Energy Company and Great Bear Pantheon LLC, a subsidiary of Pantheon Resources plc.
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