S.Korea Lawmakers Question Viability of $54B Alaska LNG Project

South Korean lawmakers are questioning the commercial viability of two major US investment projects, including a $54 billion liquefied natural gas export project in Alaska. The National Assembly, to which any investment plans under South Korea's $350 billion US investment package must be reported, highlighted that only one project - a $22 billion commitment to a Texas gas-fired plant - has been verified for commercial viability.

Representatives Han Jeoung-ae and Park Jee-hye of the Democratic Party expressed concerns about the Alaska LNG project, citing the risk of demand for fossil fuel shrinking in the years to come. They noted that large-scale infrastructure assets like gas pipelines and LNG liquefaction facilities are designed to operate for decades.

On the other hand, Representative Kwon Chil-seung of the Democratic Party defended the investment announcement, calling it a 'meaningful achievement' at a time when South Korea was facing trade pressure from the US and uncertainties in the global trade environment. He added that the agreement would provide opportunities for South Korean firms to enter the US market and expand industry cooperation.