Glenfarne Alaska LNG signed a cooperation agreement with Thailand’s public national oil company PTT for strategic participation in its Alaska LNG project.

The agreement outlines the framework for a 20-year LNG offtake arrangement of 2 million tonnes a year. The deal was formalized in a ceremony attended by Thailand’s permanent secretary of energy and the U.S. ambassador to Thailand.

“Glenfarne and Alaska LNG are pleased that PTT and the Thai government have realized the strategic security, cost and stability advantages offered by the Alaska LNG project,” said Adam Prestidge, president of Glenfarne Alaska LNG.

According to Glenfarne, the agreement means investment-grade buyers have reserved 50% of the project’s available third-party LNG capacity.

Alaska LNG is a joint venture between Glenfarne and the State of Alaska’s Alaska Gasline Development Corp. The project includes an 807-mile pipeline to transport gas from the North Slope to an export terminal on Alaska’s south coast.

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