U.S. President Donald Trump announced at a rally in Alaska that Taiwan had agreed to purchase 30% of the gas from a proposed liquefied natural gas (LNG) project in the state. "Taiwan has just agreed to buy 30% of the gas coming off the pipeline for the next 20 years," Trump said, adding that this commitment "guarantees a success." The remarks follow earlier claims that South Korea had agreed to join the $50 billion Alaska LNG project, although Seoul has not finalized its participation.
Trump also mentioned that the U.S. would invest an additional $4.4 billion into the project, on top of the $50 billion already committed by South Korea. However, the specific terms of the Taiwan deal were not immediately clear. Last year, Taiwan's state-owned energy company CPC Corp reportedly reached an agreement with Alaska Gasline Development Corp to purchase LNG and invest in the pipeline project.
Taiwan, which relies on imports for over 90% of its energy supply, has seen rising energy demand due to growth in AI-related sectors. The island's economic affairs ministry projected an average electricity demand growth rate of about 2.5% annually through 2035, the second-highest forecast in its history. The Alaska LNG project, developed by Glenfarne, aims to deliver its first gas in 2029, according to a report submitted to the U.S. government.
Trump has also increased pressure on South Korea to finalize its participation in the project, warning of higher charges if Seoul does not sign soon. This has sparked speculation in South Korean media that he might be referring to higher tariffs. The White House, Taiwan's energy ministry, and CPC Corp. did not immediately respond to requests for comment.