2 Korean firms vying to become partners in Alaska LNG project: Glenfarne

An oilfield in Alaska / EPA-Yonhap

At least two Korean companies have participated in the strategic partner selection process of the lead private developer of an Alaska liquefied natural gas (LNG) project, U.S. energy firm Glenfarne Group said Wednesday.

Glenfarne, the private joint developer in the estimated $44 billion project, said over 50 companies from Korea, the United States, Japan, Taiwan, Thailand, India and the European Union took part in the first round of its strategic partner selection process for the Alaska LNG project, hosted by its subsidiary Glenfarne Alaska LNG LLC.

Glenfarne did not disclose further details on the list of companies involved in the process but said the potential partners have formally expressed interest in various partnerships with the project, including equipment and material supply, services, investment and customer agreements, which have a combined value of US$115 billion.

U.S. President Donald Trump's administration has been pushing Seoul, Tokyo and other Asian countries to invest in the Alaska LNG project, which aims to build a 1,300-kilometer pipeline connecting the North Slope, a massive, proven reserve of natural gas, to southern Alaska for export.

The Seoul government has been mulling the country's potential participation in the project in connection with the ongoing trade negotiations with Washington over U.S. tariffs and other economic cooperation issues.

A Korean delegation, comprising officials from the industry ministry and the state-run Korea Gas Corp., is currently visiting Anchorage to attend the Alaska Sustainable Energy Conference at the invitation of state Gov. Mike Dunleavy.