President Trump to announce $54 billion South Korean investment in Alaska LNG project

U.S. President Donald Trump is set to unveil a major $54 billion investment plan from South Korea aimed at the Alaska LNG project. The initiative involves the construction of a 1,300-kilometer pipeline designed to transport natural gas from the North Slope to a liquefaction facility at the southern port of Nikiski. The project is 75% owned by the Glenfarne Group, with the State of Alaska retaining the remaining 25% stake. The exported LNG will target Asian markets, though the project has faced skepticism regarding its long-term commercial viability.

The project timeline has been adjusted after previous goals for sales agreements were not met. A final investment decision for the pipeline is expected by the end of 2026, followed by a decision for the export terminal in 2027, with the first shipments projected for 2031. While the administration promotes the project as a critical infrastructure development ahead of the upcoming midterm elections, it has faced criticism from biodiversity advocates who have raised concerns about the potential environmental impact of the pipeline.