Latest news with #Glenfarne
Hindustan Times
3 days ago
- Business
- Hindustan Times
Japan to send a senior official to Alaska energy conference
TOKYO, - Japan's Economy, Trade and Industry Minister Yoji Muto said on Friday that a senior official will attend an energy conference in Alaska early next week, where the proposed $44 billion Alaska LNG project is expected to be discussed. Takehiko Matsuo, the ministry's Vice-Minister for International Affairs, will participate in the Alaska Sustainable Energy Conference, scheduled for June 3-5, Muto said. The conference starts the day after talks scheduled by the Trump administration, which invited officials from Japan, South Korea and Taiwan to Alaska to discuss projects including a vast gas pipeline, as Asian governments consider U.S. investments in the hopes of relief from Washington's tariffs. It was not immediately clear whether Matsuo would attend the event on June 2, which will be hosted by Trump's energy czar, Interior Secretary Doug Burgum, and Energy Secretary Chris Wright. Muto said Japan has been in communication with the U.S. regarding pipeline construction and other issues, adding, "I expect meaningful discussions will be held this time as well." Japan's biggest LNG buyer JERA has sent an "expression of interest" to Glenfarne in the Alaska LNG Project, Bloomberg News reported on Friday. Glenfarne is the development partner of state-run Alaska Gasline Development Corporation . South Korea will send its Deputy Minister for Energy Policy and other energy ministry officials to the Alaska Sustainable Energy Conference, the ministry said on Thursday, as some Asian countries consider investing in the Alaska LNG project. Meanwhile, Friends of the Earth Japan said on Thursday that more than 150 groups from Japan and around the world sent an open letter to the Japanese Prime Minister urging the country not to join the costly Alaska LNG project. "For Japan, Alaska LNG is absolutely unnecessary. Japanese companies resold 37% of LNG they handled because Japan is buying LNG much more than it needs," said Hiroki Osada, a campaigner at Friends of the Earth Japan. "Starting another new LNG project is already a horrible decision considering this, but it is even more outrageous given it also exacerbates climate change beyond threshold, and destroys the indigenous way of life and the biodiversity in Alaska," he added.
Business Wire
5 days ago
- Business
- Business Wire
Glenfarne Announces Partnership With Worley and Commencement of Final Engineering for the Alaska LNG Pipeline
ANCHORAGE, Alaska & NEW YORK--(BUSINESS WIRE)--Glenfarne Alaska LNG, LLC ('Glenfarne'), a subsidiary of Glenfarne Group, LLC, and majority owner and lead developer of Alaska LNG, a joint venture with the State of Alaska's Alaska Gasline Development Corporation, has selected Worley to undertake additional engineering and prepare a final cost estimate for the Alaska LNG Pipeline in sufficient detail to achieve Final Investment Decision for the Pipeline. This work has commenced and will utilize and supplement the extensive package of previously completed engineering work and update the cost of the pipeline. Worley has also been selected as the preferred engineering firm for the Cook Inlet Gateway LNG import terminal and project delivery advisor to Glenfarne across the Alaska LNG projects. 'The declining gas production from Cook Inlet risks Alaska's energy security, as well as U.S. national security and military readiness. Prioritizing the development and final investment decision of the pipeline is essential to solving the natural gas shortages which are already impacting the state,' said Brendan Duval, CEO and Founder of Glenfarne Group, LLC. Concurrently with the final engineering work, Glenfarne has launched a strategic partner selection process to partner with global companies that support Glenfarne's execution efforts and have complementary expertise to help deliver the Alaska LNG project. 'Glenfarne is pushing Alaska LNG forward with expediency engaging prospective strategic partners. We are particularly proud to be expanding our relationship with Worley to Alaska LNG from our existing partnership on the Texas LNG project. Worley is one of the world's largest and most experienced engineering and project delivery firms with a long history of success in Alaska,' Duval added. Worley has been supporting customers in Alaska for 60+ years, delivering engineering, logistics, procurement, fabrication and construction, operations and maintenance (O&M), and field services, including for many of the projects and clients on the North Slope. Worley's deep Alaskan relationships include teams in Anchorage and a jointly owned partnership formed in 1972 between NANA NORTH, LLC, a wholly owned subsidiary of NANA Regional Corporation - one of 13 Alaska Native Corporations created by the Alaska Native Claims Settlement Act of 1971, and Worley Services (USA), Inc. 'As a full project delivery company with a strong track record in Alaska and supporting LNG projects, we're honored Glenfarne has chosen Worley to help deliver the Alaska LNG project," said Mark Trueman, President Americas, Worley. "Our specialist team is well placed to support Glenfarne in moving this vital project forward, improving energy security for Alaska and the world.' The Alaska LNG Pipeline is an 807-mile 42-inch pipeline capable of transporting enough natural gas to meet both Alaska's domestic needs and supply the full 20 million tonnes per annum ('MTPA') Alaska LNG export facility. The pipeline will be constructed in two phases. Phase One will deliver natural gas approximately 765 miles from the North Slope to the Anchorage region. Phase Two adds compression equipment and approximately 42 miles of pipeline under Cook Inlet to the Alaska LNG Export Facility in Nikiski and will be constructed concurrently with the LNG export facility. Glenfarne anticipates a final investment decision on the Alaska LNG Pipeline in 2025. Glenfarne Group, LLC is the owner of Texas LNG, which recently announced that its capacity is fully sold out. A final investment decision is expected later this year. Glenfarne Group, LLC's other affiliates include the largest importer of LNG into Colombia and Magnolia LNG, a late-stage LNG export project located in Lake Charles, Louisiana. Beyond LNG, Glenfarne Group, LLC owns 50 operating assets in the energy sector across five countries. Together with Alaska LNG, its permitted LNG portfolio totals 32.8 MTPA of capacity under development. About Glenfarne Group, LLC Glenfarne Group is a privately held developer, owner, and operator of energy infrastructure assets based in New York, New York and Houston, Texas, with offices in Anchorage, Alaska; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; and Seoul, South Korea. Through its subsidiaries, Glenfarne owns and operates 50 energy infrastructure assets through three core businesses: Global LNG Solutions, Grid Stability, and Renewables. The company's seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America. For more information, please visit About Worley Limited Worley is a leading global professional services company of energy, chemicals and resources experts. With around 50,000 employees in 45 countries, we partner with customers to deliver projects and create value over the life of their assets. We're bridging two worlds, moving towards more sustainable energy sources, while helping to provide the energy, chemicals and resources needed now. Worley Limited is headquartered in Australia and listed on the Australian Securities Exchange (ASX: WOR).
Yahoo
24-04-2025
- Business
- Yahoo
Glenfarne to acquire four solar assets with battery storage facilities in Chile
Glenfarne, an energy and infrastructure asset manager, has agreed to acquire four utility-scale solar assets and associated battery energy storage system (BESS) facilities in Chile. The acquisition, which involves a subsidiary of Glenfarne, encompasses 588MW of operational solar capacity and 1.61 gigawatt-hours (GWh) of BESS facilities, equivalent to 321MW, currently under construction. The assets, purchased from Metlen Energy & Metals, will increase Glenfarne's capacity to more than 3.1GW, including battery storage across Latin America. Glenfarne CEO and founder Brendan Duval said: 'This acquisition further diversifies Glenfarne's renewable energy portfolio and includes our first foray into both utility-scale solar and battery storage facilities. We will continue to look for strategic opportunities to grow our Chile business that are aligned with the company's mission to realise the world's energy transition.' The transaction is contingent on regulatory approvals, financing conditions and customary adjustments, with the BESS expected to become operational by early 2026. Legal firms Paul Hastings, White & Case and Claro & Cia provided advisory services for the transaction. Metlen CEO Evangelos Mytilineos said: 'This is a landmark transaction for Metlen, as we pave the growth of M Renewables. We identified the potential of Chile's renewables market in 2020 and have managed to successfully overcome market challenges. In doing so, we have developed, structured – commercially and financially – and constructed these projects at the highest standard. 'This transaction reinforces our relationship with Glenfarne across the renewables market but also creates foundations for further enhancing the cooperation in other areas of common interest.' Meanwhile, Metlen is collaborating with GE Vernova's Grid Solutions to construct converter stations for the Eastern Green Link 1, a subsea electric superhighway project led by Iberdrola and National Grid Electricity Transmission, valued at £2.5bn ($3.1bn). "Glenfarne to acquire four solar assets with battery storage facilities in Chile" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
23-04-2025
- Business
- Yahoo
METLEN and Glenfarne seal landmark deal for Solar and Battery Energy Storage Systems in Chile with total installed capacity of 588 MW and energy storage capacity of 1,610 MWh
ATHENS, Greece, April 23, 2025 /PRNewswire/ -- METLEN Energy & Metals S.A. ("METLEN") and a wholly owned subsidiary of Glenfarne Asset Company, LLC ("Glenfarne") have entered into an agreement for Glenfarne to acquire a portfolio of Solar and Battery Energy Storage System ("BESS") assets in Chile. The transaction involves operational solar projects with total capacity of 588 MW, combined with co-located BESS facilities with storage capacity of 1,610 MWh. Construction for the BESS facilities is ongoing and expected to be completed within a year. The projects benefit from wide geographic diversification and multiple interconnection nodes across Chile's Sistema Eléctrico Nacional (SEN), allowing for portfolio optimization. The headline consideration of the acquisition is agreed at USD 815Mio, including the assumption of debt, and based on certain financing assumptions and other adjustments. The closing of the transaction is planned to occur when the BESS becomes operational, regulatory approvals are obtained and certain financing and other customary conditions for this type of transactions are fulfilled. This landmark agreement forms part of METLEN's global Asset Rotation Program for renewable energy projects and showcases the unparalleled capabilities of METLEN to implement highly complex transactions globally. As BESS become an integral part of energy markets, METLEN has been in the forefront of implementing energy storage projects – standalone and on a hybrid basis. Through a unique set of capabilities across development, engineering, structuring and construction, we are able to create substantial value across our global energy business. Commenting on this sizeable transaction, the CEO of METLEN Mr. Evangelos Mytilineos, said: "This is a landmark transaction for METLEN, as we pave the growth of M Renewables. We have identified the potential of Chile's renewables market in 2020 and have managed to successfully overcome market challenges. In doing so we have developed, structured – commercially and financially - and constructed these projects at the highest standard. "This agreement reinforces our relationship with Glenfarne across the renewables market but also creates foundations for further enhancing the cooperation in other areas of common interest. Furthermore, it allows METLEN to release capital and crystallize value in a challenging market environment, providing confidence on the execution of the Asset Rotation Program." Brendan Duval, Founder and CEO of Glenfarne, said, "This transaction represents a significant step in Glenfarne's commitment to further expanding our presence in Chile's renewable energy sector and continued growth in our business relationships with METLEN. We're glad to work with METLEN on this transaction, which aligns with our mission by investing in infrastructure that supports Chile's energy transition." Astris Finance acted as Financial Advisor, and Milbank LLP, Larrain y Asociados Ltda., acted as legal advisors to METLEN for this transaction. METLEN: METLEN Energy & Metals is a multinational industrial and energy company, a leader in the metallurgy and energy industries, focused on sustainability and circular economy. The Company is listed on the Athens Stock Exchange, with a consolidated turnover and EBITDA of €5.68 billion and €1.08 billion, respectively. METLEN is a reference point for competitive green metallurgy at the European and global level, whilst operating the only vertically integrated bauxite, alumina and primary aluminum production unit in the European Union (E.U.) with privately owned port facilities. In the energy sector, METLEN offers comprehensive solutions, covering thermal and renewable energy projects, electricity distribution and trading, alongside investments in grid infrastructure, battery storage, and other green technologies. The Company is active in the markets of all five continents, in 40 countries, adopting a full-scale synergetic model between the Metallurgy and Energy Sectors, while undertaking end-to-end development of major energy infrastructure projects. About Glenfarne Group, LLC Glenfarne Group is a privately held developer, owner, and operator of energy infrastructure assets based in New York, New York and Houston, Texas, with offices in Anchorage, Alaska; Panama City, Panama; Santiago, Chile; Bogota, Colombia; Barcelona, Spain; and Seoul, South Korea. Through its subsidiaries, Glenfarne owns and operates over 50 energy infrastructure assets through three core businesses: Global LNG Solutions, Grid Stability, and Renewables. The company's seasoned executives, asset managers, and operators develop, acquire, manage, and operate energy infrastructure assets throughout North and South America. For more information, please visit If you no longer wish to receive Press Releases and Updates from METLEN, click here. Logo: View original content to download multimedia: SOURCE METLEN Energy & Metals Sign in to access your portfolio
Miami Herald
21-04-2025
- Business
- Miami Herald
Alaska's governor flew to Taiwan to sell LNG. China's not happy.
Republican Gov. Mike Dunleavy flew to Taiwan last month to pitch business and government leaders on Alaska's state-sponsored LNG export project. The same day Dunleavy and other Alaska officials arrived in Taipei on the unannounced trip, his office received an email from China's vice consul in San Francisco, Ba Yanfeng. The consulate was aware that Dunleavy was leading a trip to the "province" of Taiwan, and Chinese government officials wanted a meeting with his chief of staff, Ba said. Dunleavy had stepped into a simmering geopolitical conflict - an issue that China's government describes as the most important and sensitive in its relationship with the U.S. China claims Taiwan as its own territory and regularly conducts military drills nearby - including some that have simulated blockades and involved firing missiles over the island. The U.S. doesn't officially recognize Taiwan's independence. But it's a longtime ally, sells arms to the government and has committed in legislation to support the island's defense. In a formal follow-up note, the Chinese government said Dunleavy's trip "sends a very wrong signal to the 'Taiwan independence' separatist forces," and it urged the governor "to correct such mistakes and avoid their recurrence." But Dunleavy, in an interview, said he was undeterred. "I don't allow myself to get pushed around by too many entities or people," he said. Alaska does significant trade with China, namely in seafood products, though that's diminished since Trump began levying tariffs during his first term. Still, Alaska exports more than $500 million in seafood products to China each year. But amid China's broader, ongoing trade war with America, experts said it's unlikely that the country will target Alaska with retaliatory action even if the LNG project moves forward with Taiwanese partnership. "I think this is probably fairly low on China's list of priorities. They have a lot on their plate," said David Sacks, an expert on Taiwan and China and a fellow for Asia studies at the Council on Foreign Relations. Sacks described the Chinese correspondence with Dunleavy's office as "pretty pro forma," even if it sounds strident. He also said there's nothing unusual about an American governor or legislator traveling to Taiwan - and he noted that other states, like Arizona, have done robust business with Taiwanese firms without prompting a backlash from China. "I think it would be fairly unprecedented for the Chinese to take aggressive action here that specifically targets Alaska," he said. Dunleavy's trip to Taiwan last month came amid a new push by his administration to recruit investment in the $44 billion LNG development. Top Trump administration officials have also been touting the project to Asian allies, and a private firm, Glenfarne, has taken over leadership of the development from a state agency. Dunleavy's trip also included stops in Thailand, South Korea and Japan, where he met with politicians and corporate executives. But his Taiwan visit garnered the most headlines. In Taipei, Dunleavy met for an hour with President Lai Ching-Te and held a lunch with the vice president, according to his schedule. He also met with officials from Taipower, the country's primary electric utility, and from the state-owned oil and gas company, CPC. CPC has signed a non-binding letter of intent to buy one-third of the LNG produced by the Alaska project, and the letter also contemplates investment in the development, according to a description by officials from the state's gas pipeline agency. The letter itself is confidential, according to the agency. Promoters of Alaska's LNG project, including Dunleavy and Republican U.S. Sen. Dan Sullivan, say that investment in and purchases of gas from the development can provide Asian allies with a secure source of fuel - with a shorter transit time than shipments from the Middle East. Importing Alaska gas would also lower Taiwan's trade deficit with the U.S., which could curry favor with Trump. But it's still far from certain that the project will be built. Alaska's government has spent decades studying construction of a gas line, and the current iteration of the project has been dogged by projected high costs. Taiwanese investment in the project, and any American engagement with the island's government, also risk pushback from China. In a prepared statement to Northern Journal, the spokesman for China's embassy in Washington, D.C., Liu Pengyu, called Taiwan "an inalienable part of China's territory" and urged "the relevant U.S. side" to cease all forms of official contact with Taiwan. "China firmly opposes any form of official interaction between the United States and Taiwan, under any pretext or in any capacity," the statement said. Dunleavy, in the interview, said he did not know how the Chinese government became aware of his visit to the island. They "wanted me to abort the trip, apparently," he said. Dunleavy would not directly say whether he recognizes Taiwan's sovereignty, calling that "the biggest loaded question." "These are human beings, 23 million people. They would like to have a great relationship with the United States," he said. "We want to sell energy. They want energy. I'd love to partner." Alaska has a long history of trade with Taiwan, and other state officials have traveled there in recent years, including two state senators in 2024. Former Gov. Frank Murkowski has visited more than a dozen times, including as an observer of one of Taiwan's presidential elections. The Chinese response to Dunleavy's trip, first reported by conservative news site Must Read Alaska, is "pretty boilerplate," said Sacks, the expert from the Council of Foreign Relations. But its "ominous" language could also be an attempt by the Chinese to ward off business dealings in Taiwan by an American official who's not well-versed in the island's tense political dynamics, Sacks added, in comments that were echoed by a statement from the U.S. Department of State. "Around the world, including in the United States, the Chinese Communist Party attempts to leverage economic and diplomatic pressure to try to prevent officials from interacting with Taiwan," the statement said. "Robust cooperative activities with Taiwan, including by state leaders, are consistent with U.S. policy." The statement added that letter of intent from CPC "is another example of the longstanding, deep, and growing trade and investment ties between the United States and Taiwan, which create American jobs and mutual prosperity." Sacks said he sees the LNG project as being in America's interests - both because of its potential to reduce Taiwan's trade deficit and to give its people a more reliable supply of energy. But while Sacks described the risk of repercussions to Alaska as low, he also wouldn't completely rule them out. He pointed to a recent move by China instructing the nation's airlines to stop accepting deliveries of jets made by Boeing. "The context might change now, because the Chinese are looking for ways - in a way that they weren't before - to punish the Trump administration for the tariffs," Sacks said. "I wouldn't foreclose that." Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
