President Trump announced more than $50 billion in South Korean investment for Alaska LNG on Sept. 30. According to Glenfarne, the project's lead developer and majority owner, the investment supports Alaska LNG's pipeline and export facility.
The company says it provides the foundation to advance the project toward final investment decision (FID) and construction.
Glenfarne CEO and founder Brendan Duval joined the president in the Oval Office for the announcement. Not a bad room for a project update.
Ink Before Pipe
The investment structure isn't final yet. Glenfarne says it will work with the U.S. and Korean governments to finalize it and complete the remaining steps required to reach FID.
Duval said the initiative creates "a promising new path" to bring together the capital needed to accelerate Alaska LNG toward FID and construction.
The project includes:
An 807-mile, 42-inch pipeline delivering North Slope gas to meet Alaska's domestic needs
A North Slope gas treatment plant
A 20 MTPA LNG terminal in Nikiski
Glenfarne owns 75%, and the State of Alaska owns 25% through the Alaska Gasline Development Corporation.
Since becoming lead developer in March 2025, Glenfarne has secured agreements spanning:
LNG sales
North Slope and domestic Alaska gas supply
Labor, engineering, and pipeline construction
Equipment and materials
Strategic investment and partnerships
Commercial agreements now cover 13 million tonnes per annum of the 16 MTPA Glenfarne is targeting to support FID, leaving a 3 MTPA gap.
"For Alaskans, this is about getting to the point where we can put people to work and start building," said Adam Prestidge, president of Glenfarne Alaska LNG.
Prestidge says the investment gives the project the scale of capital it needs. Now the deal terms have to catch up to the headline.
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