Glenfarne Alaska LNG, LLC, and POSCO International Corporation announced an agreement to advance a strategic partnership for the development of the Alaska LNG Project on September 11, 2025, at the Gastech energy conference in Milan. The partnership encompasses steel supply, LNG offtake, and investment components for the only federally authorized LNG export project on the U.S. Pacific Coast.

The agreement was signed by Glenfarne Group Chief Executive Officer and Founder Brendan Duval and POSCO International Corporation Chief Executive Officer Kye In Lee during a ceremony on the night of September 10, 2025. The partnership defines the process for both companies to move forward on definitive agreements, which will close pending board approvals by both sides.

Steel Supply and Pipeline Infrastructure

Under the initial terms, POSCO will supply a significant portion of the steel required for Alaska LNG's 807-mile, 42-inch pressurized natural gas pipeline. The Alaska LNG pipeline will connect Southcentral Alaska, home to Alaska's population center and the Alaska LNG export terminal, with Alaska's vast, stranded North Slope natural gas resources. Glenfarne is targeting a year-end final investment decision (FID) for the Alaska LNG pipeline.

The company is working with Worley to complete final engineering for the domestic portion of the Alaska LNG pipeline and is targeting a year-end final investment decision. The Alaska LNG project consists of a pipeline capable of transporting enough natural gas to meet both Alaska's domestic needs and supply the full 20 MTPA Alaska LNG export terminal in Nikiski, Alaska. The pipeline will be built in two independent, financially viable phases to accelerate the project's execution.

LNG Offtake Agreement

The agreement includes initial terms for a 20-year Heads of Agreement for 1 million tonnes per annum (MTPA) of LNG offtake on a Free-on-Board basis. This represents the first announced HOA for Alaska LNG, marking a significant milestone for the project's commercial development. Phase One of the pipeline will deliver natural gas approximately 765 miles from the North Slope to the Anchorage region. Phase Two includes the Alaska LNG facility, approximately 42 miles of pipeline under Cook Inlet, and pipeline compression equipment.

Strategic Partnership Details

Alaska LNG is a joint venture between Glenfarne, majority owner and lead developer of Alaska LNG, and the state-owned Alaska Gasline Development Corporation. POSCO is the largest sales representative of POSCO Group, Korea's largest steel producer, and a major Korean LNG importer. Brendan Duval commented that POSCO's participation in Alaska LNG adds tremendous momentum as they drive this signature North American LNG project forward at a rapid tempo.

He noted that the agreement includes critical project components and demonstrates global support for unlocking some of the most strategically located LNG in the world, emphasizing Korea as a valued target market for Alaska LNG. Glenfarne Alaska LNG President Adam Prestidge highlighted POSCO as one of the world's foremost steel companies, a leading LNG importer in one of Alaska LNG's most important markets, and now a significant partner in Alaska LNG.

He stated that POSCO's involvement underscores the project's strategic, geographic, and economic competitive advantages as they rapidly progress toward a final investment decision on the Alaska LNG pipeline.

Project Context and Company Portfolios

The announcement follows Alaska LNG's execution of a letter of intent with JERA Co., Inc., which was announced the day before the POSCO agreement. Glenfarne's permitted North American LNG portfolio totals 32.8 MTPA of capacity under development in Alaska, Texas, and Louisiana. Glenfarne Group is a privately held developer, owner, and operator of energy infrastructure assets based in New York, New York, and Houston, Texas, with offices in Anchorage, Alaska; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; and Seoul, South Korea.

Through its subsidiaries, Glenfarne currently owns and operates over 60 energy infrastructure assets through three core businesses: Global LNG Solutions, Grid Stability, and Renewables. POSCO International, a core member of the POSCO Group, operates as a leading trading and investment company with a diverse business portfolio spanning steel, energy, and agribusiness.

The company maintains an extensive global network and is actively engaged in steel trading, the development and operation of the Myanmar Gas Field, and sourcing key resources for its overseas agribusiness operations. POSCO International is also exploring future growth engines such as renewable energy and eco-friendly mobility components as part of its commitment to sustainable growth.

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