Singapore – Mayer Brown has advised POSCO International in connection with its equity investment in the US$45 billion Alaska LNG project in the United States, the only federally authorized LNG export project on the US Pacific Coast.
Alaska LNG is a joint venture between Glenfarne, majority owner and lead developer of the Alaska LNG Project, and the state-owned Alaska Gasline Development Corporation.
As part of the investment, Glenfarne entered into an agreement with POSCO International to supply 1,000,000 tons per year of LNG from the Alaska LNG project for 20 years. The deal also includes terms for POSCO to supply steel for Alaska LNG’s gas pipeline, which will connect the North Slope gas reserves to South-central Alaska and the export terminal.
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