Alaska’s Mega-Pipeline Gets a Second Chance in the Trump Energy Era

Baker Hughes (NYSE:BKR) has taken a decisive role in reviving one of America’s most ambitious energy projects. The Houston-based oilfield services firm has signed definitive agreements with Glenfarne Alaska LNG LLC, a subsidiary of Glenfarne Energy Transition, to supply power generation equipment and main refrigerant compressors for the long-delayed Alaska LNG Project. The partnership positions Baker Hughes as both technology provider and investor in the $44 billion development, one of the largest single energy infrastructure undertakings in the United States. Reuters confirmed the signing of definitive agreements and noted that the project has entered advanced engineering and design phases.

For Alaska, the agreement revives a decades-old plan to monetize the state’s vast North Slope gas reserves, long stranded by distance and cost. The design involves two sequential phases: an 807-mile, 42-inch pipeline from the Prudhoe Bay and Point Thomson fields to the Kenai Peninsula, followed by a liquefaction terminal capable of producing up to 20 million tonnes per year of LNG, about a quarter of Japan’s annual gas imports. According to the Alaska Gasline Development Corporation, the system will handle roughly 3.3 billion cubic feet of gas per day, supplying local utilities before exporting the remainder to Asia.

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Momentum has built since January 2025, when AGDC transferred majority ownership and lead-developer status to Glenfarne, which agreed to fund about $150 million of pre-FID development costs while the state retained a 25 percent stake. Reuters described the handover as the clearest path yet toward construction. Engineering firm Worley Ltd is conducting the front-end engineering and design (FEED) study, expected to conclude by December 2025.

If approved, the pipeline phase could begin in 2026, followed by the liquefaction plant about two years later. Glenfarne says more than 50 companies have expressed interest in supply or construction contracts worth over $115 billion, spanning the United States, Japan, South Korea, Taiwan, India, Thailand and the European Union. Reuters reports preliminary commercial commitments for more than 60 percent of the planned capacity, including non-binding deals with Japan’s JERA Co., Tokyo Gas Co. and South Korea’s POSCO International.

The Alaska LNG integrated scope of gas treatment, pipeline and terminal carries a headline estimate of about $44 billion. Petroleum Australia notes that high capital intensity reflects Arctic construction conditions and remote logistics, unlike U.S. Gulf Coast projects that benefit from existing infrastructure. Typical Gulf Coast liquefaction trains cost between $6 billion and $7 billion for 6 to 8 million tonnes per year of capacity, but Alaska’s geography demands an integrated pipeline and gas-treatment system before liquefaction begins.