Trump Touts South Korea's $50 Billion Alaska LNG Investment Amid Korean Government Caution
U.S. President Donald Trump announced that South Korea will invest in several major projects in the United States, including the Alaska liquefied natural gas pipeline project.
The project, which has been pursued for decades but never reached actual groundbreaking due to massive upfront investment and financing challenges, is estimated to cost between $44.5 billion to $54.5 billion.
Trump stated that when the Alaska LNG pipeline is completed, it will supply about 113 million cubic feet of natural gas per day, putting the United States on a level that 'cannot be compared with anyone.'
Korean Minister Lutnick said that over $50 billion will be invested in the Alaska LNG project, which he claimed 'will change Alaska and geopolitics,' and 'if gas from Alaska is exported to Asia, all of Southeast Asia will depend on the United States for gas and natural resources.'
However, the Korean government has only confirmed one investment project, a $22.3 billion gas-fired power plant in Texas, and classifies the other projects as requiring further consultations.