South Korea Invests Heavily in Alaska LNG Pipeline

South Korea has made a significant investment in the Alaska LNG project, committing $54 billion to advance an 807-mile natural gas pipeline and a 20-million-metric-ton-per-year LNG export facility in Alaska. The project aims to connect North Slope gas production with a planned liquefaction and export facility at Nikiski on the Kenai Peninsula.

The centerpiece of the project is a 42-inch-diameter pipeline running from Prudhoe Bay on Alaska's North Slope to Nikiski, which would have capacity to transport about 3.3 billion cubic feet of natural gas per day. The development includes a 739-mile mainline pipeline and an optional 63-mile Point Thomson lateral.

The LNG liquefaction and export facility planned for Nikiski has a separate final investment decision targeted for 2027, with first LNG exports scheduled for 2030-2031. The project is being developed by 8 Star Alaska LLC, which is owned 75% by Glenfarne Group and 25% by the State of Alaska.