Glenfarne, TotalEnergies Sign 20-Year LOI for 2 MTPA Alaska LNG

Glenfarne Alaska LNG, LLC and TotalEnergies signed a Letter of Intent in Washington, D.C., on February 26, 2026, for a long-term offtake of 2 million tonnes per annum of liquefied natural gas, a preliminary agreement the companies say is subject to the project’s final investment decision. The ceremony was witnessed by U.S. Senator Dan Sullivan and Congressman Nick Begich, and Glenfarne described the LOI as part of its drive to secure long-term volume to finance the Alaska LNG project.

Alaska LNG is planned as a 20 MTPA export scheme with Pacific orientation and direct access to Asia; TotalEnergies’ press release calls it the only federally authorized LNG export terminal on the U.S. Pacific coast. Glenfarne says it is the lead developer and majority owner, holding 75 percent, while the State of Alaska, through the Alaska Gasline Development Corporation, holds 25 percent. Glenfarne’s materials describe a 42-inch pipeline from the North Slope and list a pipeline length of 807 miles; Offshore-energy’s project summary likewise lists a 42-inch diameter but reports 765 miles for the Phase One pipeline.

Glenfarne says it intends to contract 80 percent of the project’s 20 MTPA capacity, equal to 16 MTPA, to finance construction, and reported that it "now has 13 MTPA accounted for under preliminary long-term agreements" with TotalEnergies, JERA, Tokyo Gas, CPC, PTT, and POSCO. The 2 MTPA LOI with TotalEnergies is described in company releases as a long-term offtake over 20 years; TotalEnergies and Offshore-energy explicitly state the duration as 20 years, while Glenfarne’s headline and copyframe the agreement as preliminary.

TotalEnergies framed the deal as strategic for Asia-facing supply and cited its 2025 U.S. export record. Patrick Pouyanné, Chairman and CEO of TotalEnergies, said, "We look forward to offtaking LNG from Glenfarne’s Alaska LNG project. The Alaska LNG project is indeed very well geographically positioned to better serve our Asian customers. It also illustrates TotalEnergies’ ambition to consolidate its position as a leading buyer of U.S. LNG, while diversifying its supply sources. TotalEnergies is indeed very proud to have been the number one exporter of US LNG in 2025 with 19 MT representing 18% of the whole US production." Glenfarne CEO Brendan Duval added that, "TotalEnergies is one of the most sophisticated LNG market participants in the world" and that "Alaska LNG offers a unique Pacific orientation that complements TotalEnergies’ supply strategy and provides Asian customers with direct access to U.S. gas."

Offshore-energy reports Glenfarne is developing the project in two financially independent phases: Phase One to deliver natural gas to meet Alaska’s domestic needs via the North Slope pipeline, and Phase Two to add the liquefaction terminal for export. Offshore-energy also states Glenfarne is targeting mechanical completion of the pipeline in 2028 and delivery of first gas in 2029, and that Glenfarne announced conditional awards after a multi-round bid process that began with twenty participants and selected Worley to provide EPCM services.

Political supporters framed the LOI as momentum toward a final investment decision. Senator Dan Sullivan said, "The Alaska LNG project continues to build exciting momentum and reach never-before-seen milestones as we advance toward a final investment decision," and added, "I applaud the Glenfarne team for their diligent work to achieve this latest agreement, and I welcome TotalEnergies to an impressive, growing coalition of top global energy and construction players that recognize the great investment opportunities available in Alaska LNG. I also want to again commend what I call the ‘American Energy Dream Team’—Secretary Burgum and Secretary Wright—for tirelessly promoting this project as a top priority of the Trump administration. This project has the potential to transform Alaska, help our allies, and strengthen our country’s national security. The momentum is real, the alignment is"

Glenfarne and TotalEnergies emphasize the LOI is preliminary and contingent on the project’s final investment decision; Offshore-energy, TotalEnergies’ press release, and Oilprice all note the contingency. If the parties proceed to binding contracts and Glenfarne secures the remaining commercial commitments needed to reach its 16 MTPA financing target, the companies say the Alaska LNG project could move toward the stated pipeline completion and first-gas milestones in 2028 and 2029. Questions remain for local stakeholders, including confirmation of the pipeline mileage discrepancy and the detailed commercial terms that will determine how much North Slope gas is delivered to Alaska consumers versus exported to Asia.