Trump warns South Korea of higher costs over Alaska LNG project

US President Donald Trump has warned South Korea of higher costs if Seoul does not support the Alaska LNG project. The threat came after South Korea clarified that its involvement in the project had not been finalized. Trump, speaking at the White House, stated, 'I'm not rushing to take action. I mean, they're there and represented. And we'll just see. If they don't want to do it, I don't mind. I'll just charge them more.'

Earlier, Trump had announced that South Korea would invest $200 billion in various US energy projects, including the Alaska LNG project and a nuclear energy initiative. Bloomberg reported that South Korea's investment in the Alaska project alone was estimated at $54 billion, part of a larger $350 billion investment commitment to the US by 2025.

However, South Korean Trade Minister Kim Jung-kwan denied any official agreement on the Alaska LNG project. He stated that the two countries only agreed on three points listed in a fact sheet, and that the figures presented by Washington exceeded what had been discussed. South Korea emphasized that its involvement in the project still depends on commercial studies and legal requirements.

The Alaska LNG project aims to transport gas from the North Slope through a 1,300-kilometer pipeline to a liquefaction facility in Nikiski, southern Alaska. The project is estimated to cost between $44.5 billion and $54.5 billion, though concerns remain about its commercial viability due to higher costs compared to other LNG facilities in the US Gulf Coast region.