Trump Announces Funding for Alaska LNG Project as Part of US-South Korea Trade Deal

President Donald Trump announced on September 30 that funding for the Alaska LNG Project is part of a trade deal between the United States and South Korea. The agreement includes $200 billion in investments from South Korea in exchange for lower tariffs.

The project, valued at approximately $55 billion, would transport North Slope natural gas through an 800-mile pipeline to Southcentral for export. If built, it could start immediately with the first gas flowing within three years.

U.S. Commerce Secretary Howard Lutnick stated that South Korea will invest 'just over $50 billion' in the Alaska LNG Project. Other investments announced include $120 billion for eight nuclear power plants and $22 billion for a gas-fired power plant in Texas.

Alaska Senator Dan Sullivan, who has long advocated for the project, reiterated his support saying it's the 'most important project in our state.' Democratic challenger Mary Peltola also expressed her commitment to the project.