ConocoPhillips signed a 30-year gas sales precedent agreement with Glenfarne Alaska LNG, a subsidiary of Glenfarne Group. This deal secures natural gas supply from the North Slope for the first phase of the Alaska LNG project.
The agreement enables a Final Investment Decision (FID) for the project’s initial phase. This phase focuses on meeting domestic Alaskan energy demand.
The project has now secured supply agreements with all three major North Slope producers. This milestone anchors a long-term outlet for ConocoPhillips, a significant holding in the VDE ETF.
The pipeline targets its first gas delivery for 2029. The project aims to resolve projected in-state gas shortages through this new infrastructure.