Glenfarne Agrees to Supply Natural Gas, Build Power Plant for Donlin Gold Mine

Per a non-binding letter of intent, Glenfarne Alaska LNG will supply natural gas from the Alaska LNG pipeline and, in cooperation with Donlin Gold, develop the infrastructure required to deliver gas and power a mine in southwest Alaska. The companies will formalize a sales agreement for up to 50 million cubic feet of natural gas per day, in addition to:

• Establishing a method to develop and construct an approximately 315-mile-long natural gas pipeline from southcentral Alaska to the Donlin Gold mine in southwest Alaska
• Building a power plant to generate electricity for the mine

Donlin Gold, located 10 miles north of Crooked Creek village, is currently among the largest known and undeveloped open-pit gold deposits.

“As Donlin moves into what we hope to be the largest single gold mine in the United States, natural gas from Alaska LNG could offer significant benefits not only for the mine, but for the entire southwestern Alaska region,” said Greg Lang, NOVAGOLD’s President and CEO. “We look forward to working with Glenfarne to unlock the value of both of these Alaskan resources: Donlin Gold and Alaska LNG.”

Glenfarne became Alaska LNG’s lead developer in March 2025 and is developing the project in two financially independent phases to accelerate execution. The first phase features a 765-mile, 42-inch pipeline to transport natural gas from Alaska’s North Slope to fulfill statewide energy needs. The next phase will add an LNG terminal and associated infrastructure to export 20 MTPA of LNG.

“Alaska LNG offers abundant low-cost natural gas that will enhance the economics and facilitate development of energy-intensive mining projects in Alaska,” said Adam Prestidge, President, Glenfarne Alaska LNG. “We have confidence in the future success of Donlin following the significant investment by Paulson. Adding a customer like Donlin Gold to Alaska LNG provides significant volume discount benefits that will result in lower energy costs for Alaska consumers. As we continue to bring on more pipeline customers, the cost of gas for Alaskans will continue to go down.”

Since March 2025, Glenfarne has secured preliminary commercial commitments with LNG buyers in Japan, South Korea, Taiwan, and Thailand for 11 MTPA of LNG, in addition to strategic partnerships with Baker Hughes and POSCO International. The company owns 75% of Alaska LNG and the Alaska Gasline Development Corp. owns 25%.

“A reliable, secure supply of economic natural gas from Alaska LNG has the potential to substantially enhance our ability to unlock value and upside potential in Donlin Gold,” said John Paulson, President of Paulson. “Glenfarne’s global energy experience is well suited to provide a long-term turnkey energy solution that helps advance this opportunity.”

Alaska LNG Project

In November 2025, Baker Hughes and Glenfarne Alaska LNG formed a strategic alliance to advance the Alaska LNG project. Per the agreement, Baker Hughes will supply main refrigerant compressors for its LNG terminal and power generation equipment for the North Slope gas treatment plant, in addition to making an investment to support Alaska LNG. The alliance was announced in Washington D.C. as part of a ceremony with Secretary of Energy Chris Wright and Secretary of the Interior Doug Burgum.