$54B South Korea Investment Tied to Alaska LNG Project Unveiled by Trump

US President Donald Trump announced on September 30, 2026, a major $54 billion investment from South Korea tied to the Alaska LNG project. This announcement comes as part of a wave of manufacturing and jobs initiatives unveiled by the White House ahead of November's midterm elections.

The project centers on an 807-mile natural gas pipeline from Alaska's North Slope to a southern LNG export terminal, aiming to deliver a reliable fuel supply that will lower local energy costs. This investment is part of a 2025 trade agreement between the US and South Korea, where Seoul pledged $350 billion in US investments in exchange for lower tariffs on its automobiles, auto parts, and other exports.

Senator Dan Sullivan (R-Alaska), who faces a competitive reelection contest, has consistently supported Alaska's natural gas project and encouraged South Korean investment. Trump praised Sullivan as 'a great senator' and thanked him for getting the deal done. The project is expected to create 12,000 construction jobs and provide low-cost energy to Alaskans for 50-100 years.