Glenfarne Selects Posco to Supply Steel for Alaska LNG Pipeline
The project is designed to meet Alaska’s domestic gas needs and support an LNG terminal with a nameplate capacity of 20 million tons per year. Development will advance in two phases.
SEATTLE (Scrap Monster): Glenfarne Alaska LNG and South Korea’s Posco International have signed a strategic cooperation agreement covering steel supply, LNG offtake, and investment, pending board approvals. Under the deal, Posco will deliver most of the steel required for a planned 807-mile high-pressure pipeline that will move natural gas from Alaska’s North Slope to an export terminal in Nikiski, south-central Alaska.
The framework also includes a 20-year LNG sales contract, with Posco committing to purchase 1 million tons annually on an FOB basis. Glenfarne highlighted Posco’s dual role as South Korea’s largest steelmaker and a key LNG importer, noting that its involvement secures raw material supply while enhancing access to Asian markets.
The project is designed to meet Alaska’s domestic gas needs and support an LNG terminal with a nameplate capacity of 20 million tons per year. Development will advance in two phases.
Courtesy: www.yieh.com