Trump Touts South Korean Investment in Alaska LNG Project
US President Donald Trump is expected to announce his administration's plan to use South Korea's pledged $54 billion investment package to fund several major US projects, including a liquefied natural gas facility in Alaska. The move aims to bolster Trump's economic record ahead of the November midterm elections.
The Alaska LNG project would transport natural gas from Alaska's North Slope to a liquefaction facility on the state's southern coast, where it could be shipped to Asian markets. Japan's two biggest LNG importers, JERA and Tokyo Gas, have signed preliminary deals to buy a combined 2 million metric tons a year from Alaska LNG.
South Korean and US officials have been working together to identify projects for the $350 billion strategic investment package that Seoul pledged under a trade deal last year. The two sides have discussed several potential investments, including the Alaska LNG project, nuclear power, and a gas-fired power project in Texas.