South Korea’s Alaska LNG Funding Remains Uncertain

President Donald Trump announced that South Korea would invest about $200 billion in U.S. projects, including $54 billion for Alaska’s long-delayed LNG project, a Texas gas-fired power plant and eight nuclear plants. South Korean officials said the Alaska project remains under review and may be included in an investment memorandum without a binding funding commitment; reports indicate Seoul is prioritizing the Texas plant. The investments are tied to a 2025 trade deal under which South Korea pledged $350 billion in U.S. investments in exchange for lower U.S. tariffs. The proposed Alaska project would move North Slope gas through an roughly 800-mile pipeline to a southern Alaska export terminal for shipment to Asian markets, but faces unresolved questions about financing, commercial viability, costs and state tax legislation. Trump made the announcement alongside Alaska Republican Sen. Dan Sullivan, who faces a competitive reelection race.