Commodities
Trump Announces Trade Deal with South Korea Including Funding for Alaska LNG Project
US President Donald Trump announced a trade deal between the United States and South Korea, which includes funding for the long-sought Alaska LNG Project.
The White House says South Korea will invest $200 billion in U.S. projects in exchange for lower tariffs as part of the larger trade agreement.
The Alaska LNG Project would move North Slope natural gas through an 800-mile pipeline to Southcentral for export, with a total cost of around $55 billion.
Glenfarne Group Founder and CEO Brendan Duval said work on the AK LNG could start immediately if the South Korean funding comes through, with the first gas flowing in as soon as three years.