Commodities
South Korea Pushes Back on US Announcement of Alaska LNG Investment
South Korea has pushed back against a unilateral announcement from Washington regarding its investment in the Alaska liquefied natural gas (LNG) project. The country's Industry Minister, Kim Jung-kwan, said that participation is conditional on commercial viability and domestic legal requirements.
The US Commerce Secretary, Howard Lutnick, acknowledged South Korea's concerns and suggested working together to make the project successful.
The proposed development involves a pipeline transporting natural gas from northern Alaska to the south and an LNG export terminal. The agreed framework also includes two South Korean-designed APR1400 reactors and six AP1000 reactors for nuclear power generation.