Leading container ship owner Danaos Corporation has entered into a strategic partnership with New York-headquartered energy infrastructure player Glenfarne Group LLC to advance the Alaska LNG project.
Under the agreement, Danaos will make a $50m development capital equity investment in Glenfarne Alaska Partners LLC, while it will also be the preferred tonnage provider to construct and operate at least six LNG carriers to deliver LNG to global customers for Glenfarne Alaska LNG, LLC, majority owner and developer of the Alaska LNG project.
Glenfarne is developing the project in two phases. The first consists of a 765-mile, 42-inch pipeline to transport natural gas from Alaska’s North Slope to meet Alaska’s domestic energy needs.
The second phase will add the LNG liquefaction terminal and related infrastructure to export 20 million tonnes per annum (mtpa) of LNG.
In March 2025, Glenfarne became the lead developer of Alaska LNG and has since secured preliminary commercial commitments from LNG buyers in Japan, Korea, Taiwan, and Thailand for 11 mtpa of LNG, and partnerships that include Baker Hughes and POSCO International.
Glenfarne owns 75% of Alaska LNG, with the Alaska Gasline Development Corporation owning the 25%.
Dr. John Coustas, chief executive officer of Danaos, said: “As Alaska LNG opens up a major new source of North Pacific energy, Danaos is pleased to offer our shipping expertise to reliably serve customers across the region and around the world with safe, competitive LNG delivery.
“This transaction provides us with an opportunity to expand on our expertise in global seaborne transportation and expand the footprint of Danaos in the LNG and Energy segments.”
Danaos current fleet consists of 75 container vessels, with an additional 25 under construction.
The company has also invested in the dry bulk sector with the acquisition of 11 capesize drybulk vessels, which on a fully delivered basis, aggregate approximately 1,943,286-dwt.
