Japan has engaged premier global energy consultancy Wood Mackenzie to conduct a feasibility study on the US mega-scale Alaska liquefied natural gas project, signalling renewed momentum for the $44 billion (€37 billion) initiative.
The project, championed by the current US administration, includes a proposed 800-mile pipeline and liquefaction plant to supply Asian markets. Japanese energy heavyweights — including JERA, Tokyo Gas, Osaka Gas, Mitsubishi Corporation, and Inpex — are actively holding discussions with project developers over potential offtake agreements.
Although no binding commitments have been announced, strong interest from Japan could be the tipping point needed to secure financing, especially through state-backed lenders like JBIC.
This development could represent a geopolitical and commercial breakthrough.
Japan, the second-largest LNG importer globally, has pledged to evaluate US LNG offtake arrangements.
Analysts note prior skepticism over the project's competitive viability, particularly in light of logistical complexity and cost hurdles; these new financing models could transform its outlook.
The Wood Mackenzie review is expected to deliver updated cost estimates from engineering firm Worley ahead of year-end, setting the stage for a potential final investment decision. With growing demand for stable, long-term LNG supply in Asia, this move marks a critical turning point in the project's lifecycle.
Alaskan LNG project gains momentum
