Trump says he did not 'jump the gun' on South Korea Alaska LNG investment announcement
XLE•Trump said South Korea’s planned $54 billion investment in an Alaska LNG pipeline had not been prematurely announced, after Seoul cast doubt on the commitment. He said the U.S. could charge South Korea more if it did not participate.
1. Investment commitment questioned
Trump said Friday he did not “jump the gun” by announcing South Korea’s planned investment in Alaska LNG. Seoul had suggested that a $54 billion pipeline commitment was not yet set in stone. Trump said non-participation would be acceptable to him, but the U.S. would “just charge them more.”
2. Broader project package
Trump said South Korea’s planned $200 billion investment in U.S. projects would include eight large nuclear power plants, a natural gas pipeline and a 6-gigawatt power plant in Texas. The package is the first set of major projects under a broader $350 billion strategic investment commitment made as part of a trade agreement with Washington.
3. Alaska LNG details
The Alaska LNG project would include a pipeline of more than 800 miles from the North Slope to an LNG liquefaction facility at Nikiski, Alaska. It has been planned for decades but still lacks binding commitments, and would cost more than twice as much as a comparable U.S. Gulf Coast plant.
