Baker Hughes and Glenfarne sign definitive agreements to launch Alaska LNG

Baker Hughes (BKR) and Glenfarne Alaska announced that Alaska LNG, majority owned and developed by both companies, will advance the Alaska LNG Project. Glenfarne has selected Baker Hughes as its supplier for main refrigerant compressors for the LNG terminal and power generation equipment for the North Slope gas treatment plant. Baker Hughes has also committed to a strategic investment to support Alaska LNG. Glenfarne is developing Alaska LNG in two financially independent phases to accelerate project execution. Phase One consists of an 807-mile, 42-inch pipeline to transport natural gas from Alaska’s North Slope to meet Alaska’s domestic energy needs. Worley is expected to complete final engineering and cost analysis for the pipeline in December leading into a final investment decision on this phase of the project. Phase Two of the project will add the LNG terminal and related infrastructure to enable 20 million tonnes per annum of LNG export capability and is expected to declare FID in late 2026. Glenfarne’s permitted North American LNG portfolio totals 32.8 MTPA of capacity across projects in Alaska, Texas, and Louisiana. The companies previously announced that Baker Hughes will supply compression equipment for Glenfarne’s Texas LNG project.