Anchorage Daily News–Opinion: Alaska LNG is a competitive, well-positioned energy project
Brendan Duval, Anchorage Daily News, February 15, 2025
Alaska’s rugged landscape demands hard work, grit, and determination: qualities that define those who thrive here. This same spirit has maintained strong support for Alaska LNG, a bold undertaking that embodies opportunity and forward-thinking action. It is this kind of development that Glenfarne Group LLC knows how to make a reality.
Glenfarne has built its reputation on energy infrastructure projects and initiatives that require leadership and an entrepreneurial spirit. Alaska LNG is vitally important to the energy security of Alaska, the United States, and global markets. Our mindset and experience as a premier independent private energy infrastructure developer, along with the hard work and shared goals of Alaskans, will make this project successful.
Last year, following an extensive global search for a development partner by the Alaska Gasline Development Corp., Gov. Mike Dunleavy described his vision for Alaska LNG to me. Afterwards, Glenfarne reviewed the project’s fundamentals, including what is important for the development of the project and what has changed over the last 10 years. We determined that Alaska LNG is a competitive, well-positioned energy infrastructure project that will generate over $10 billion of tax revenue for the state and local boroughs, 18,000 direct and indirect jobs during construction and 1,500 direct and indirect jobs when operating. It just needed the right private developer to join with the state, take it on and move it forward. That’s us and that’s our role.
In conjunction with our review of Alaska LNG, Glenfarne also offered our expertise to help Enstar and other gas utilities manage the risk of a gas shortfall via temporary LNG imports, if necessary. Whether Alaska imports LNG or not, Glenfarne is heavily engaged in Alaska LNG, and it is the primary reason we plan to bring our expertise to Alaska.
Glenfarne is here to be part of Alaska’s prosperous future. We have received an outpouring of inquiries since our role with Alaska LNG and Enstar was disclosed. Overwhelmingly, these inquiries have been enthusiastic expressions of support for the project from Alaska leaders and residents, including authentic and heartwarming messages of gratitude and encouragement from residents whose family members were vital to the construction of the trans-Alaska pipeline.
Every day, Glenfarne meets the critical energy needs of the countries where we operate. In the United States, we are the developer, owner and operator of Magnolia LNG and Texas LNG. Texas LNG is the most recent U.S. LNG project to fully sell its LNG volumes with a total market value over $60 billion during the respective contract periods. Texas LNG’s key global project partners include EQT, Baker Hughes, ABB, Kiewit, Macquarie, Gunvor, Honeywell and a European utility that is one of the biggest traders of LNG.
In Chile, Glenfarne’s grid stability infrastructure prevents blackouts with our rapid response thermal power plants that are required to backstop the country’s renewable energy expansion.
In Colombia, Glenfarne imported $240 million of LNG in 2024 from 35 cargoes to supplement the country’s declining gas production and power our natural gas plants as Colombia faces an energy crisis due to drought conditions preventing their hydroelectric plants from operating. In situations that require timely, high-stakes energy solutions, we deliver.
From a financing perspective, Glenfarne’s bond holders, relationship banks and project investors total over 50 premier global institutions. They trust us with their funds and investments, supporting our view that we will successfully finance, build, and operate the full scale of the Alaska project.
Glenfarne appreciates the tremendous support coming from the Trump administration for Alaska LNG. This will be invaluable to the accelerated advancement of this project. However, it is important to note our support of the project started prior to these recent developments. We stepped forward because we believe in Alaska’s spirit, people, and leadership. Projects like the trans-Alaska pipeline and Alaska LNG are built by those who believe and those who can. They require courage and confidence. History shows that Alaskans can complete ambitious, global scale projects when they unite around a common goal. Glenfarne is excited to join Alaska as it charts a new path to global energy security for our allies and a stronger economy for Alaska, the U.S., and the countries that receive Alaska LNG’s exports.
Brendan Duval is the CEO and founder of Glenfarne Group LLC.