Developers disclose $44.5B–$54.5B construction range and target FID this year

Developers told the Senate Finance Committee they now estimate the Alaska LNG project’s construction costs — adjusted to 2026 dollars — between roughly $44.5 billion and $54.5 billion. Adam Prestridge, Glenfarn’s president, said the pipeline FEED produced a class 2 estimate for the pipeline and that other project elements rely on prior studies, company experience and inflation adjustments.

"We put the total estimated range of construction costs for the full Alaska LNG project between 44,500,000,000 and $54,500,000,000," Prestridge said while walking the committee through slide estimates. The company broke that range into subprojects: pipeline $13.2B–$16.9B; LNG facility $23.6B–$28.4B; gas treatment $7.7B–$9.2B.

On schedule, Glenfarn and AGDC said they are targeting a final investment decision later this year — September–October was cited as an achievable window if the legislature passes a workable tax arrangement — and estimated roughly 2.5–3 years from FID to flowing pipeline gas plus about six months for commissioning. Senators pressed the presenters on estimate classes, contingency assumptions and escalation; presenters said the ranges include escalation forecasts and sensitivity cases but noted inherent uncertainty with large, multi‑decade projects.