Washington DC - President Donald Trump on Wednesday announced $200 billion in US energy investments from South Korea, including $54 billion toward a long-discussed liquefied natural gas (LNG) project in Alaska.
Besides the Alaska LNG project and pipeline, the Trump administration announced eight new nuclear plants and a large natural gas-fired plant in Texas that would be supported by the government of South Korea.
The announcement details South Korea's previous pledges to make good on a tariff deal with Trump. It included an agreement to invest $350 billion in the US and boost its purchases of American energy.
By doing so, South Korea is fulfilling pledges it made as part of a July 2025 trade deal with Trump that set 15% tariffs on South Korean goods imported into the US.
Top Trump administration officials, including Energy Secretary Chris Wright and Interior Secretary Doug Burgum, joined the president for an Oval Office ceremony with Alaska Republican Senator Dan Sullivan, who is facing a tough reelection contest in November.
The Alaska project, championed by Glenfarne Group, a New York- and Houston-based industrial project developer, envisions the construction of an 800-mile pipeline to transport natural gas to a liquefaction facility near Anchorage.
Alaska officials have considered such a project in the past, but have not moved ahead due to questions about project costs and consumer demand for the LNG.
While Alaska has decades of history as a petroleum producer, environmental concerns have historically constrained such developments.
The Trump administration has largely brushed aside environmental concerns, canceling regulations to reduce emissions that cause global warming while pursuing an "energy dominance" agenda that favors fossil fuel development.