![Alaska LNG developer receives down payment?…Why [biz-plus] - Seoul Economic Daily Finance News from South Korea](https://www.europesays.com/wp-content/uploads/2026/03/1773794178_425_image "POSCO International Invests $9M in Alaska LNG Developer")
Alaska LNG developer receives down payment?…Why [biz-plus]
POSCO International (047050) has invested approximately 12.5 billion won ($9 million) in a U.S. Alaska liquefied natural gas development company, according to regulatory filings.
Business reports disclosed by POSCO Holdings and other sources on the 17th revealed that POSCO International acquired a 1.17% stake in Glenfarne Alaska Partners for 12.55 billion won as of the end of last year. The company characterized the move as “a minority stake investment to secure steel supply rights and LNG priority rights, rather than a full-scale investment.”
POSCO International said detailed negotiations with Glenfarne for a final investment decision on the Alaska LNG project are proceeding on schedule for completion within this year. An FID agreement would signify that POSCO International has completed all feasibility reviews and made a final decision to participate, giving legal effect to all previously conditional contracts.
Yang Soo-young, former president of Korea National Oil Corporation, commented on POSCO International’s initial investment: “The significance lies in the commitment to participate in the project. They could pursue a strategy of expanding their stake as the project progresses.”
The Alaska LNG project involves developing gas fields in the North Slope region of northern Alaska. Glenfarne, the developer, plans to construct approximately 1,300 kilometers of LNG transport pipeline running north-south through Alaska and build liquefaction terminal infrastructure capable of exporting 20 million tons of LNG annually. The project is estimated to exceed $44 billion in total investment.
Foreign media reports indicate Glenfarne has secured export contracts for 13 million tons of LNG. Brendan Duval, Glenfarne CEO, recently stated the company is “negotiating with two potential customers to supply 3 million tons of LNG.” The goal is to reach a final decision this year or next year at the latest and begin LNG exports in 2031.
Besides POSCO International, France’s TotalEnergies, Japan’s JERA and Tokyo Gas, Taiwan’s state-owned oil and gas company CPC, and Thailand’s state-owned PTT have publicly expressed interest in long-term purchases of Alaska-produced LNG.