Alaska LNG pipeline gets US backing but awaits South Korea’s final approval
US Vice-President JD Vance confirmed on Monday that a proposed liquefied natural gas (LNG) pipeline in Alaska will proceed, though key details still need to be finalized with South Korea. The project is part of a broader agreement announced last week by US President Donald Trump, in which South Korea pledged to invest $200bn in American infrastructure, including the Alaska LNG pipeline. However, South Korean officials have since indicated that the investment is still under review.
Vance acknowledged the need for further discussions, stating, 'I think it’s something that’s going to happen. Obviously, you have to work out some details, and the South Koreans have spoken to that.' He emphasized the strong demand for American natural gas as a driving factor for the project's success.
South Korean finance minister Lee Hyoung-il clarified in a parliamentary session on Tuesday that the government would first assess the commercial viability of the investment. 'The US shares the understanding that commercial reasonableness is important,' Lee said. Industry minister Kim Jung-kwan echoed this sentiment but noted the strategic benefits, particularly amid energy supply disruptions caused by the Middle East conflict.
While the project appears to have bipartisan support, the South Korean government's cautious approach suggests that final approval is not yet guaranteed.