Glenfarne Group LLC is taking over as the lead developer of the Alaska LNG project with the acquisition of a majority interest in the project from Alaska Gasline Development Corp.

Glenfarne has acquired a 75% interest in 8 Star Alaska, a subsidiary created for the development of Alaska LNG. Alaska Gasline Development Corp. will continue as a partner in the project with a 25% ownership of 8 Star Alaska.

Glenfarne Alaska LNG LLC will lead the remaining development of Alaska LNG from front-end engineering design work until the project makes a final investment decision (FID).

The Alaska LNG project development involves an 807-mile, 42-inch pipeline, a 20-million tonnes per annum LNG export terminal in Nikiski and a carbon capture plant. The project will deliver natural gas from Alaska’s North Slope to Alaskans and utilities. It is the only federally permitted LNG export projects on the U.S. Pacific Coast.

Glenfarne initially signed a deal to develop the project in January. With state support, the facility is being developed, in part, to bring needed natural gas supplies to the Cook Inlet, one of the state’s population centers in the south central Alaska.

“Today is a historic day for Alaska,” said Alaska Governor Mike Dunleavy in the deal’s announcement. “Oil was discovered in Prudhoe Bay almost exactly 57 years ago and since then Alaskans have never given up on finding a way to also benefit from our North Slope natural gas.”

Upon FID, the State of Alaska will hold a 25% interest in 8 Star Alaska with the options to invest another 25%.

“Alaska LNG will strengthen the U.S. geostrategic position in the North Pacific, provide vital energy security for our residents, our military bases, our businesses and our Asian allies, and unlock billions in economic benefit at home and abroad,” Dunleavy said.

Glenfarne is also the owner of Texas LNG and Magnolia LNG in Louisiana.

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