Glenfarne Announces Partnership With Worley and Commencement of Final Engineering for the Alaska LNG Pipeline

Alaska LNG Strategic Partner Process Also Launched

ANCHORAGE, Alaska & NEW YORK–(BUSINESS WIRE)–Glenfarne Alaska LNG, LLC (“Glenfarne”), a subsidiary of Glenfarne Group, LLC, and majority owner and lead developer of Alaska LNG, a joint venture with the State of Alaska’s Alaska Gasline Development Corporation, has selected Worley to undertake additional engineering and prepare a final cost estimate for the Alaska LNG Pipeline in sufficient detail to achieve Final Investment Decision for the Pipeline.

This work has commenced and will utilize and supplement the extensive package of previously completed engineering work and update the cost of the pipeline. Worley has also been selected as the preferred engineering firm for the Cook Inlet Gateway LNG import terminal and project delivery advisor to Glenfarne across the Alaska LNG projects.

“The declining gas production from Cook Inlet risks Alaska’s energy security, as well as U.S. national security and military readiness. Prioritizing the development and final investment decision of the pipeline is essential to solving the natural gas shortages which are already impacting the state,” said Brendan Duval, CEO and Founder of Glenfarne Group, LLC.

Concurrently with the final engineering work, Glenfarne has launched a strategic partner selection process to partner with global companies that support Glenfarne’s execution efforts and have complementary expertise to help deliver the Alaska LNG project.

“Glenfarne is pushing Alaska LNG forward with expediency engaging prospective strategic partners. We are particularly proud to be expanding our relationship with Worley to Alaska LNG from our existing partnership on the Texas LNG project. Worley is one of the world’s largest and most experienced engineering and project delivery firms with a long history of success in Alaska,” Duval added.

Worley has been supporting customers in Alaska for 60+ years, delivering engineering, logistics, procurement, fabrication and construction, operations and maintenance (O&M), and field services, including for many of the projects and clients on the North Slope. Worley’s deep Alaskan relationships include teams in Anchorage and a jointly owned partnership formed in 1972 between NANA NORTH, LLC, a wholly owned subsidiary of NANA Regional Corporation – one of 13 Alaska Native Corporations created by the Alaska Native Claims Settlement Act of 1971, and Worley Services (USA), Inc.

“As a full project delivery company with a strong track record in Alaska and supporting LNG projects, we’re honored Glenfarne has chosen Worley to help deliver the Alaska LNG project,” said Mark Trueman, President Americas, Worley. “Our specialist team is well placed to support Glenfarne in moving this vital project forward, improving energy security for Alaska and the world.”

The Alaska LNG Pipeline is an 807-mile 42-inch pipeline capable of transporting enough natural gas to meet both Alaska’s domestic needs and supply the full 20 million tonnes per annum (“MTPA”) Alaska LNG export facility. The pipeline will be constructed in two phases. Phase One will deliver natural gas approximately 765 miles from the North Slope to the Anchorage region. Phase Two adds compression equipment and approximately 42 miles of pipeline under Cook Inlet to the Alaska LNG Export Facility in Nikiski and will be constructed concurrently with the LNG export facility.

Glenfarne anticipates a final investment decision on the Alaska LNG Pipeline in 2025.

Glenfarne Group, LLC is the owner of Texas LNG, which recently announced that its capacity is fully sold out. A final investment decision is expected later this year. Glenfarne Group, LLC’s other affiliates include the largest importer of LNG into Colombia and Magnolia LNG, a late-stage LNG export project located in Lake Charles, Louisiana. Beyond LNG, Glenfarne Group, LLC owns 50 operating assets in the energy sector across five countries. Together with Alaska LNG, its permitted LNG portfolio totals 32.8 MTPA of capacity under development.

About Glenfarne Group, LLC

Glenfarne Group is a privately held developer, owner, and operator of energy infrastructure assets based in New York, New York and Houston, Texas, with offices in Anchorage, Alaska; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; and Seoul, South Korea. Through its subsidiaries, Glenfarne owns and operates 50 energy infrastructure assets through three core businesses: Global LNG Solutions, Grid Stability, and Renewables. The company’s seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America. For more information, please visit https://glenfarnegroup.com/.

About Worley Limited

Worley is a leading global professional services company of energy, chemicals and resources experts. With around 50,000 employees in 45 countries, we partner with customers to deliver projects and create value over the life of their assets. We’re bridging two worlds, moving towards more sustainable energy sources, while helping to provide the energy, chemicals and resources needed now.

Worley Limited is headquartered in Australia and listed on the Australian Securities Exchange (ASX: WOR).

Contacts

Glenfarne – Kris Cole, Pro-glenfarne@prosek.com, (310) 652-1411