Former Alaska Gov. Bill Walker is spearheading a new company to build a “large volume” pipeline to export North Slope natural gas, according to state documents.

According to news media reports, Alaska Gasline & LNG LLC is working to buy the state’s proposed liquefied natural gas (LNG) project.

The state-owned Alaska Gasline Development Corp. (AGDC) assumed ownership of the proposal in 2016 after former partners BP plc, ConocoPhillips and ExxonMobil dropped out. The AGDC said earlier this year it planned to find a sponsor to complete the project or sell the assets, including permits and engineering work.

The Alaska LNG project has an estimated cost of $38.7 billion for a three-liquefaction train facility in Nikiski with capacity of 20 million metric ton/year (2.55...