Alaska gas line LLC secretly changes name
The holding company that wants to build the Alaska gas pipeline is changing its name.
But it is keeping the name change a secret for now.
We know this thanks to Sen. Cathy Giessel, who included a link to the announcement of the secret name change in her latest newsletter, the best regular update from anyone in the Alaska Legislature.
Here is the filing with the Federal Energy Regulatory Commission. Giessel said she does not know why the company is changing its name or why it is a secret.
It’s interesting that the document filed by 8 Star Alaska LLC that is available to the public does not mention the name change at all, only that the company submitted a “privileged” letter. It is only on the FERC website listing the subject of the secret letter that the government reveals: “8 Star Alaska, LLC submits request to change applicant name for the Alaska LNG Project under CP17-178.”
So it appears that 8 Star Alaska doesn’t want the public to know about its secret name change as it is the commission that revealed what the secret letter contains.
The company, which is owned 25 percent by the state, has not informed the Alaska Legislature about the name change.
Perhaps it will soon be the Trump Gold-plated Gas Pipeline 8 Star Alaska LLC? Or maybe the company is being sold to a new enterprise?
We know very little about 8 Star Alaska LLC because the Dunleavy administration, through the gasline development corporation, has not made transparency a priority. Surely the new name of the venture should be public information.
8 Star Alaska LLC is a Delaware company, that is 75 percent owned by Glenfarne Alaska LNG LLC.
Glenfarne Alaska LNG LLC is also a Delaware company. It is owned by Glenfarne Services LLC, which is based at 292 Madison Avenue, 19th Floor, New York, N.Y.
Glenfarne Services LLC is not registered with the Alaska corporations office. It is owned by the Glenfarne Group LLC.
Glenfarne Group LLC says it is a “New York headquartered, privately held and privately funded proprietary investment platform that seeks to generate superior risk adjusted returns from investments in the broader Real Asset space, which includes service providers and industrial suppliers within Transportation, Infrastructure, Government Services, Energy and other Recurring assets such as Resources and Real Estate.”
The state-owned AGDC gave 75 percent of 8 Star Alaska to Glenfarne. 8 Star Alaska was created as a private subsidiary that holds all the planning work, engineering, research data, rights of way, permits, etc. for the proposed gasline project.
In exchange for the 75 percent share, Glenfarne agreed to pursue the project to where a final investment decision on whether to build the pipeline will be made. That work was estimated to be valued at about $150 million.
The company had planned to reach a final investment decision before the end of 2025, but it has been delayed. It might happen this month, Frank Richards, the president of AGDC said recently.
The AGDC has yet to release redacted versions of the governance structure agreements it signed with Glenfarne that have been requested by Giessel and other legislators.
Your contributions help support independent analysis and political commentary by Alaska reporter and author Dermot Cole. Thank you for reading and for your support. Either click here to use PayPal or send checks to: Dermot Cole, Box 10673, Fairbanks, AK 99710-0673.\
Write me at dermotmcole@gmail.com.
This is the notice Glenfarne sent to the Federal Energy Regulatory Commission about a “privileged” letter it has filed with the commission. We know that the secret filing by Glenfarne includes a new name for the holding company Glenfarne and the state formed for the gasline only because the commission labeled this filing as a name change on its website. It appears that Glenfarne did not want anyone to know of the name change as it was excluded from this redacted letter. CP17-178 refers to the FERC docket.