Trump Touts Korea as Funding Source for Troubled Alaska Gas Project
At an Oval Office ceremony, President Donald Trump announced that he had secured a deal with the Republic of Korea to invest $54 billion in Alaska's long-desired natural gas pipeline project.
The project, which has been stalled for decades, aims to ship gas from the North Slope through a yet-to-be-built 807-mile pipeline to Cook Inlet, where it would be liquefied and put on tankers for shipment to Asian markets.
However, Korean officials have disputed Trump's claim, stating that their government is only reviewing the project and has not committed to investing in it. The actual commitment, as described in a memorandum of understanding, is to 'explore the possibility of investment' while stopping short of making any binding financial commitment.