Trump Claims South Korea Will Invest $50B in Alaska Gas Pipeline. Not so Fast, Korean Officials Say
Korean officials said the Alaska LNG investment has not been finalized and must pass commercial and legal reviews before moving ahead.
- On Wednesday, President Donald Trump announced that South Korea would invest more than $50 billion for the Alaska LNG project as part of a $200 billion investment package to strengthen American energy supply chains.
- The long-stalled project requires an approximately 1,300-kilometer pipeline from Alaska's North Slope to Nikiski, but decades of commercial viability concerns caused ExxonMobil, BP and ConocoPhillips to withdraw in 2016.
- Glenfarne Group CEO Brendan Duval said work could begin soon, though the developer still lacks binding purchase agreements for 3 million tons of LNG; Glenfarne Group owns 75 percent of the project alongside AGDC.
- Contradicting the White House, South Korea's Ministry of Trade, Industry and Resources stated, "Neither the decision on whether to invest nor the size of the potential investment has been determined," citing ongoing review.
- While Sen. Dan Sullivan hailed the announcement amid his reelection campaign, critics like Larry Persily dismissed the timeline as a "political stunt" given the massive Arctic construction challenges and seasonal constraints.
12 Articles
12 Articles
Trump-backed Alaska LNG revival still faces viability questions in Korea
With a discrepancy emerging between Korea and the U.S. over a proposed investment of more than $50 billion in the Alaska liquefied natural gas (LNG) project, questions are growing over whether the project can generate sufficient commercial returns for Seoul. U.S. Secretary of Commerce Howard Lutnick said Wednesday (local time) Korea would invest about $54 billion (73.4 trillion won) in the Alaska LNG project, as part of Seoul's $200 billion inve…
Regarding investment in the US on the 1st, President Lee Jae-myung said, “Among the US investment projects announced by the United States, we have decided to begin working (working, practical work) on the premise that the commerciality of the Alaska liquefied natural gas (LNG) business is confirmed and that it complies with Korean law and procedures.” President Lee wrote on X today
South Korea and the US initiated strategic investment projects, including a Texas gas plant and potential nuclear reactors. Alaska’s pipeline plan is still under review, despite previous claims of a $50 billion South Korean investment.
Donald Trump commits to building a gas pipeline in Alaska, thanks to a massive investment made by South Korea
On the 30th (local time), while announcing South Korean investment targets in the U.S., U.S. President Donald Trump effectively made it a fait accompli that South Korea would invest more than $50 billion (approximately 68 trillion won) in the Alaska liquefied natural gas (LNG) project. However, the fact sheet jointly released by South Korea and the U.S. contained information suggesting that related consultations have not yet been finalized. The …
South Korea tempered Donald Trump's announcements on Thursday about future investments in a liquefied natural gas project in Alaska.
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