Trump set to tout Korean investment in Alaska LNG, other projects
XLE•Trump could announce as soon as Wednesday that South Korea’s strategic investment fund will support several U.S. projects, including roughly $54 billion for the planned Alaska LNG facility. The project’s Japanese buyers JERA and Tokyo Gas have signed preliminary deals for a combined 2 million metric tons of LNG a year.
1. Potential investment announcement
Trump could announce that his administration intends to use South Korea’s strategic investment fund for several major U.S. projects, including roughly $54 billion for the planned Alaska LNG facility, two people familiar with the discussions said. The announcement could come as soon as Wednesday.
2. Alaska LNG plans
The project would transport natural gas from Alaska’s North Slope by pipeline to a liquefaction facility on the state’s southern coast for shipment to Asian markets. JERA and Tokyo Gas have signed preliminary deals to buy a combined 2 million metric tons a year if the project is built.
3. Commitments and context
Developer Glenfarne said in March that it had lined up commitments for 13 million tons a year and needed agreements for another 3 million tons, with all commitments binding, to line up financing. The potential announcement comes ahead of November’s midterm elections as Trump seeks to bolster his administration’s economic record.
