Irene Quednow: Time slipping away on gasline window of opportunity
By IRENE QUEDNOW
June 10, 2026 – As the legislation to move the LNG project forward is now on the House floor in Juneau, and then onto the Senate, the question remains:
Are we saying goodbye to the gas line?
I sure hope not.
But while the Alaska Legislature continues to discuss the details of the deal, one day and then another slips away. Every day that passes increases the cost to the developer and shortens the remaining construction season for this year. Pushing the decision about the project into next year will have even more dire consequences – it will kill the gas line because of the subsequent unsustainable cost increase.
So where are we at?
The two main arguments for the delay seem to be “Alaska needs to get their fair share” and “the Alaska constitution says for the legislature to develop/utilize/conserve all resources…for the maximum benefit of its people”. But what is our “fair share” or the “maximum benefit”? Is it 20%, 39%, 53%?
There is no definition provided for either one of those terms. When you ask 12 different people you will get 12 different answers. Many are talking about the billions Glenfarne will be making in profits, but hardly anybody is talking about the risks being taken with billions in investment that will not start to be recouped until several years into the project.
Let’s look at some of the things Alaska will be receiving with the project moving forward:
Roughly 12,000 jobs during the construction of the project
Roughly 1,000 long-term jobs to maintain it
An estimated 6000 jobs in the support industry (which will stay mostly local and will give a huge boost to local businesses)
Attracting more investors / investments as other companies recognize Alaska as a good place to do business
Taxes and royalties of about $26 billion
Revenue of $22 billion or more for the state and around $4 billion for local governments
Lower energy costs for everyone, including school districts, freeing up money to invest in education rather than heating buildings
Dollars spent on gas will not support China or some other foreign country which is what would happen if we import gas
Glenfarne just offered to cap the cost of gas to Alaskans even if the project goes over budget, another great concession to the state
Glenfarne also agreed to pay for the building of the spurline to Fairbanks
Direct revenue from the project for Alaska would be about 1.7 billion dollars each year for 30 years.
It is common business practice that the more somebody buys / invests, the more discount they get. It does not mean things are being given away, but rather it is a give and take to the benefit of both parties involved.
On the other hand, if the project dies because of the bickering about what a fair share is, the political grand standing, the power plays and the virtue signaling that has been and is taking place in Juneau, Alaska’s fair share of about $52 billion will be …
ZERO.
So the question Alaskans and legislators have to ask themselves is this: How greedy are we going to be?
Home » Irene Quednow: Time slipping away on gasline window of opportunity
Irene Quednow: Time slipping away on gasline window of opportunity
By IRENE QUEDNOW
June 10, 2026 – As the legislation to move the LNG project forward is now on the House floor in Juneau, and then onto the Senate, the question remains:
Are we saying goodbye to the gas line?
I sure hope not.
But while the Alaska Legislature continues to discuss the details of the deal, one day and then another slips away. Every day that passes increases the cost to the developer and shortens the remaining construction season for this year. Pushing the decision about the project into next year will have even more dire consequences – it will kill the gas line because of the subsequent unsustainable cost increase.
So where are we at?
The two main arguments for the delay seem to be “Alaska needs to get their fair share” and “the Alaska constitution says for the legislature to develop/utilize/conserve all resources…for the maximum benefit of its people”. But what is our “fair share” or the “maximum benefit”? Is it 20%, 39%, 53%?
There is no definition provided for either one of those terms. When you ask 12 different people you will get 12 different answers. Many are talking about the billions Glenfarne will be making in profits, but hardly anybody is talking about the risks being taken with billions in investment that will not start to be recouped until several years into the project.
Let’s look at some of the things Alaska will be receiving with the project moving forward:
Direct revenue from the project for Alaska would be about 1.7 billion dollars each year for 30 years.
It is common business practice that the more somebody buys / invests, the more discount they get. It does not mean things are being given away, but rather it is a give and take to the benefit of both parties involved.
On the other hand, if the project dies because of the bickering about what a fair share is, the political grand standing, the power plays and the virtue signaling that has been and is taking place in Juneau, Alaska’s fair share of about $52 billion will be …
ZERO.
So the question Alaskans and legislators have to ask themselves is this: How greedy are we going to be?
Irene Quednow is an Anchorage resident.
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