Greek shipowner broadens its horizons in LNG realm by joining Alaska’s $44B project

January 21, 2026, by Melisa Cavcic

Danaos Corporation, a Greek owner of large-sized container vessels, has decided to widen its presence in the liquefied natural gas (LNG) sphere through a strategic partnership with the U.S.-based Glenfarne Group to advance a multibillion-dollar LNG export development project in Alaska.

Thanks to its deal with Glenfarne, Danaos will make a $50 million development capital equity investment in Glenfarne Alaska Partners and become the preferred tonnage provider to construct and operate at least six LNG carriers, which will deliver LNG to global customers for Glenfarne Alaska LNG, the majority owner and developer of the Alaska LNG project since March 2025.

Dr. John Coustas, Danaos’ Chief Executive Officer, commented: “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.”

The Alaska LNG project is being developed in two financially independent phases to accelerate project execution. While Phase One consists of a 765-mile, 42-inch pipeline to transport natural gas from Alaska’s North Slope to meet Alaska’s domestic energy needs, Phase Two will add the LNG liquefaction terminal and related infrastructure to export 20 million tonnes per annum (mtpa) of LNG.

Glenfarne has secured preliminary commercial commitments from LNG buyers in Japan, Korea, Taiwan, and Thailand for 11 mtpa of LNG, and strategic partnerships that include Baker Hughes and POSCO International.

The firm owns 75% of Alaska LNG, with the Alaska Gasline Development Corporation holding the remaining 25%. The U.S. player’s permitted North American LNG portfolio totals 32.8 mtpa of capacity currently under development in Alaska, Louisiana, and Texas.

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