ConocoPhillips Signs 30-Year Alaska LNG Supply Deal

ConocoPhillips, a major operator in North Dakota's Bakken formation, has signed a long-term agreement to supply natural gas from Alaska to a key liquefied natural gas (LNG) project, according to a report from Rigzone. The company inked a 30-year deal with developer Glenfarne to supply gas produced on Alaska's North Slope for the first phase of the Alaska LNG project.

The deal, reported on May 20, 2026, secures a destination for ConocoPhillips' Alaska gas production for three decades. The gas is intended to supply consumers within the state of Alaska. This move underscores ConocoPhillips' significant investments and operational footprint beyond the contiguous United States, including the Bakken.

For Bakken-focused observers, the deal highlights the diversified portfolio and long-term planning of a leading basin operator. While the agreement pertains to Alaskan assets, it reflects ConocoPhillips' broader strategy to secure stable, long-term outlets for its natural gas production across its portfolio. The company is a top producer in the Bakken, where associated gas from oil wells is a major component of output.

The development of new LNG demand, even in other regions, can influence broader natural gas market dynamics and pricing benchmarks over time. Bakken operators, including ConocoPhillips, often face challenges related to gas capture, flaring regulations, and takeaway capacity in North Dakota. Major players securing firm gas offtake agreements in other basins demonstrates the value placed on guaranteed market access for natural gas, a relevant consideration for Bakken production economics.

The Alaska LNG project, in which ConocoPhillips is now a key supplier, aims to provide energy to Alaskan communities and potentially for export. The company's involvement in such a large-scale, long-duration infrastructure project contrasts with the typically shorter-cycle development common in shale plays like the Bakken.