ConocoPhillips (COP) and Glenfarne’s Alaska LNG Sign 30-Year Natural Gas Supply Agreement

ConocoPhillips (NYSE:COP) is one of the Most Undervalued US Stocks According to Hedge Funds. On May 18, Reuters reported that ConocoPhillips (NYSE:COP) and Glenfarne’s Alaska LNG project have signed a 30-year natural gas supply agreement. This marks a significant milestone towards the project’s development.

​The report highlighted that, as a result of this deal, Alaska LNG now has sufficient supply commitments to support a final investment decision for Phase One and address Alaska’s domestic energy needs. Reuters noted that Phase one of the project revolves around a 739-mile pipeline designed to deliver natural gas to Alaskan consumers. This is important as the state faces challenges of supply shortfall from declining Cook Inlet production. Later, Phase Two is expected to add LNG export facilities in Nikiski.

​In addition to ConocoPhillips (NYSE:COP), Alaska LNG now has supply agreements with Exxon Mobil, Hilcorp Alaska, and Great Bear Pantheon.

​In separate news, earlier on May 4, RBC Capital reiterated an Outperform rating on the stock with a price target of $152. The firm noted ConocoPhillips’ first-quarter 2026 earnings performance to be better than anticipated. RBC Capital highlighted that the impact of low production from Qatar was offset by higher commodity prices.

​ConocoPhillips (NYSE:COP) is an exploration and production company. Its Alaska segment focuses on exploring for, producing, transporting, and marketing crude oil, natural gas, and NGLs. The Lower 48 segment includes operations across the 48 contiguous U.S. states and the Gulf of Mexico.

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