Splash247: Danaos steps into LNG with Alaska project tie-up

Greek owner Danaos is widening its reach beyond boxships and bulkers after striking a strategic partnership with US energy infrastructure player Glenfarne Group on the Alaska LNG project.

The Nasdaq-listed company said it will invest $50m in development capital through Glenfarne Alaska Partners, while also lining up as the preferred tonnage provider for at least six LNG carrier newbuilds to support the export phase of the project.

Under the agreement, Danaos would construct and operate the LNG carriers that will ship cargoes from Alaska to global markets once the project moves into its export phase.

Glenfarne is developing Alaska LNG in two standalone stages. Phase one centres on a 765-mile pipeline from Alaska’s North Slope to supply the state’s domestic gas demand. Phase two adds liquefaction and export infrastructure designed to handle up to 20m tonnes per annum of LNG.

Glenfarne took over as lead developer of Alaska LNG in March last year and has since secured preliminary offtake commitments for around 11m tpa from buyers in Japan, South Korea, Taiwan and Thailand. The project’s partner list also includes Baker Hughes and POSCO International. Glenfarne holds a 75% stake in Alaska LNG, with the Alaska Gasline Development Corporation owning the remaining 25%.

For Danaos, the move marks a step into LNG shipping and energy-linked investments, adding another leg to a business best known for its containership exposure.

Chief executive John Coustas said the project opens up a new supply source for the North Pacific and gives Danaos an opportunity to deploy its shipping expertise in LNG transportation.

The deal comes as Danaos continues to build out its wider fleet. The company currently controls 75 containerships and has more than 20 newbuildings on order. It has also been expanding in dry bulk, recently confirming the purchase of a capesize bulker due for delivery in late first-quarter 2026, taking its capesize fleet to 11 ships.