Commodities
Trump Touts $200B Energy Deal with South Korea
President Donald Trump announced a major energy investment deal with South Korea on October 1, 2026. The agreement involves $200 billion in US energy investments from South Korea, including $54 billion for a liquefied natural gas project in Alaska.
The project, championed by Glenfarne Group, aims to build an 800-mile pipeline to transport natural gas from the North Slope to a liquefaction facility near Anchorage. The natural gas will then be exported to Asia.
The deal is part of a July 2025 trade agreement between the US and South Korea, which included $350 billion in investments by South Korea in the US. This includes boosting purchases of American energy. In return, South Korea agreed to pay 15% tariffs on its goods imported into the US.