JERA signs 20-year LNG offtake deal with Glenfarne’s Alaska LNG

ANCHORAGE, September 11, 2025 – As Japan is deepens support for the Alaska LNG mega-project, JERA has signed a 20-year offtake deal with Glenfarne for 1 million tpy, the companies announced on Wednesday.

The deal marks the third LNG offtake agreement secured by Alaska LNG in the past five months and builds on five decades of LNG trade between Alaska and Japan. LNG will be delivered on a free-on-board basis from the Alaska LNG project.

Glenfarne became the lead developer and 75% shareholder of the Alaska LNG project in March 2025 and has since secured preliminary agreements for over half of the project’s third-party LNG offtake capacity, including with CPC in Taiwan and PTT in Thailand.

“Alaska LNG’s economic and strategic competitive advantages, including the shortest US shipping proximity to Asia and abundant, low-volatility North Slope gas reserves, are propelling our commercial progress,” Glenfarne Alaska LNG president Adam Prestidge said.

The project is planned in two phases: a domestic pipeline followed by the LNG export terminal. Glenfarne aims to make a final investment decision on the pipeline in late 2025 and on the export components in 2026. It is also pursuing binding agreements for LNG volumes exceeding the project’s total capacity.

Japan has recently appointed consultancy Wood Mackenzie to assess the viability of the 800-mile Alaska gas pipeline and LNG project, signalling Tokyo’s increased interest in backing the USD 44-billion development. The study is expected to ease investor concerns around the project’s scale and cost.

Although developers Glenfarne and Alaska Gasline Development Corp. have not commented, Japan’s move follows a July trade agreement in which it committed to exploring new LNG offtake arrangements and investing USD 550 billion in US sectors including pipelines and energy. Japanese companies including Tokyo Gas, Osaka Gas, Mitsubishi and Inpex are also in discussions regarding the project.

Glenfarne Group is a privately held US-based energy infrastructure developer with offices in North and South America, Europe and Asia. Through its subsidiaries, it owns and operates more than 60 energy infrastructure assets across LNG, grid stability and renewables.

JERA is Japan’s largest power producer and one of the world’s biggest LNG buyers. The company operates across the full energy supply chain and has committed to achieving net-zero CO2 emissions globally by 2050.

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