Despite the monumental announcement this spring transferring majority control of Alaska’s $44 billion LNG project to Texas-based Glenfarne Group, state officials now confirm the deal brought no direct cash payment to Alaska.

In a recent radio interview on KSRM’s Sound Off hosted by Duane Bannock, Alaska Gasline Development Corporation (AGDC) President Frank Richards confirmed that the State of Alaska received no upfront compensation for its 75% stake in 8 Star Alaska—the new project entity formed to carry the Alaska LNG Project forward.

“There was no exchange of money,” Richards said during the interview. “What the state receives is essentially a company that will now take on the project leadership as well as the cost.”

That cost, expected to reach $150 million through final engineering

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