Commodities
Trump Touts $54 Billion South Korean Investment in Alaska Gas Pipeline
President Trump announced plans for South Korea to invest in a natural gas pipeline project in Alaska. The project involves building an 807-mile pipeline connecting Alaska's North Slope to a liquefied natural gas export terminal in southern Alaska.
The White House said the project will reduce energy costs for Alaskan residents by providing a reliable and secure supply of natural gas. Commerce Secretary Howard Lutnick noted that liquefied natural gas could also be exported to Asia.
According to officials, building the pipeline will take three years, with exports beginning two years after that. The project's financing is dependent on South Korea's government approving it.