Commodities
S.Korea Eyes $19.8B LNG Power Plant as First US Investment Project
The South Korean government is reportedly close to designating a $19.8 billion liquefied natural gas (LNG) power plant in Texas as its first investment project in the United States, according to sources.
Industry Minister Kim Jung-kwan recently traveled to Washington for talks with U.S. Commerce Secretary Howard Lutnick and other officials regarding the project.
The government views the LNG power plant as a prime candidate due to its commercial viability and stable long-term cash flows.
The project is expected to supply electricity to data center developments in Texas, which are expanding rapidly.