By SUZANNE DOWNING
Glenfarne Group has announced a strategic partnership with Danaos Corporation to advance the Alaska LNG Project, bringing together project development and global maritime logistics as the effort moves toward execution.
Under the agreement, Danaos will facilitate the construction and operation of at least six liquefied natural gas carriers to deliver Alaska LNG to global customers and will make a $50 million development capital investment in the project. The partnership is designed to lock in reliable shipping capacity, one of the key commercial elements of large-scale LNG exports.
Brendan Duval, chief executive officer and founder of Glenfarne, said the addition of Danaos strengthens Alaska LNG’s competitive position, particularly its proximity to Asian markets and canal-free shipping routes that avoid congested or contested waterways. Duval cited Danaos’ track record in ship ownership and operations as a meaningful step forward for the project.
Danaos Chief Executive Officer Dr. John Coustas said the company will apply its global shipping expertise to serve customers across the North Pacific and beyond, while expanding Danaos’ footprint into LNG and energy transportation.
Danaos operates one of the most modern fleets in the maritime sector, with vessels built to high safety, efficiency, and environmental standards. The company currently manages 86 vessels, with 25 additional vessels under construction, positioning it to support long-term LNG transport requirements.
Glenfarne is developing Alaska LNG in two financially independent phases. Phase One consists of a 739-mile, 42-inch natural gas pipeline from Alaska’s North Slope to supply in-state energy needs. Phase Two would add an LNG liquefaction terminal and related infrastructure capable of exporting up to 20 million tonnes per annum of LNG to international markets.
Glenfarne became the lead developer of Alaska LNG in March 2025. Since then, the company has announced preliminary commercial commitments totaling 11 MTPA from LNG buyers in Japan, South Korea, Taiwan, and Thailand. The project’s strategic partner roster also includes Baker Hughes and POSCO International.
Ownership of Alaska LNG is split between Glenfarne, which holds a 75% stake, and the Alaska Gasline Development Corporation, which retains 25%. Glenfarne was advised on the transaction by Sealion Capital.
Glenfarne Group is a privately held global developer, owner, and operator of energy infrastructure, with more than 60 assets across Global LNG Solutions, Grid Stability, and Renewables. Its permitted North American LNG portfolio totals 32.8 MTPA under development in Alaska, Louisiana, and Texas.
Danaos Corporation, whose shares trade on the New York Stock Exchange under the symbol DAC, is among the world’s largest independent owners of large container vessels by capacity and has also expanded into the dry bulk sector.
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5 thoughts on “Glenfarne partners with Danaos to advance Alaska LNG shipping, commits $50 million to project”
What’s the project estimate, supposedly to be announced at the end of 4Q-2025?
Still patiently awaiting!
Imagine “one of the world’s largest independent owners of containerships” committing to a deal to build (at least) 6 ships to transport LNG from a firm that doesn’t own, or even have an agreement to buy a single molecule of natural gas….
I’m speculating this ‘agreement’, like so many others with Glenfarne, are ‘non-binding’ and simply more stuffing of the pipe-dream.
Lining up another supplier for a project that will never happen. These agreements do nothing to really move the project forward. They are, in fact, sought by the vendors to lock in business as a preferred partner. Glenfarne could find as many of these agreements for ships as they wanted, as there are many willing suppliers around the world eager to sell them.
Hype, baby, it’s all hype.
And of course Danaos is a Greek container ship company that currently has zero LNG carriers, and any new ones they build for this project will be built in South Korea, Singapore, or elsewhere in Asia. America First!! (??)
There is no LNG and Glenfarm has no contracts for building anything in Alaska. Glenfarm says it has big money but that is not true. Glenfarm has had a bad time staying out of bankruptcy. Leave it to the idiot governor Dunleavy and his predecessors to pull a scam. Lying to the public on this and pushing for imaginary projects is fraud, waste and abuse. No, the PFD monies will not be spent on the scum bag ideas of the sick leadership of this state.
There are two surveys completed for a gasline to Valdez, There is one completed to the border with Yukon Territories and two permissions of the US Congress to bring gas through Canada. What does this tell you of the business acuity of leadership in this state? No, the state of Alaska does not want a gasline to the Kenai. Not thru the park or over the hill and dale of the Mat-Su or any where near the waters of the Cook Inlet. This state is sick to death of the schemes of poor leadership and its hard to get leadership elected to jobs as governor and legislative persons that have any clue of the business to keep this state healthy in business. We don’t have the leadership and it appears it won’t happen anytime soon. Hiding and lying and scheming is not the way.