Episode Details

A leaked draft agreement between Alaska Gasline Development Corporation and Glenfarne reveals a chilling clause: if the LNG project collapses, Alaska could be on the hook for billions in clawback fees tied to Glenfarne’s shifting valuation. With tax breaks already proposed—potentially $16 billion, likely underestimated—the state’s financial risk escalates as Glenfarne delays even basic cost estimates until next year. Cost projections have wildly varied—from $46B to $92B—with internal estimates hovering around $57B. After public pressure, Glenfarne narrowed its range to $44.5B–$54.5B, but critics call those numbers “complete garbage.” New analysis shows North American LNG projects average 60% cost overruns, suggesting Alaska LNG could hit $104B. Without transparent, accurate data, lawmakers are gambling on shaky ground—leaving Alaskans footing the bill for a project whose true cost remains hidden.

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