Trump to unveil $200 billion South Korean investment in US projects, White House says
XLE•President Donald Trump will announce plans for South Korea to invest $200 billion in U.S. projects, including $54 billion for the Alaska LNG project. The package also includes eight nuclear power plants and a 6-gigawatt Texas power facility.
1. Investment projects
The announcement will detail the first major projects under a broader $350 billion strategic investment package South Korea made as part of a trade agreement with Washington last year. The package includes $150 billion for shipbuilding and $200 billion for strategic investments.
2. Alaska LNG details
The Alaska LNG project would include an 807-mile pipeline carrying gas from the North Slope to a liquefaction facility on Alaska’s southern coast. It is designed to transport about 3.9 billion cubic feet of gas per day and produce up to 20 million metric tons of LNG annually. The project has faced uncertainty over cost, financing and commercial viability, and South Korea has said investments must meet commercial viability standards.
3. Other projects
The Texas gas-fired power project, selected under the program, is expected to supply energy-intensive facilities including semiconductor plants and data centers. Japan’s JERA and Tokyo Gas have signed preliminary agreements to buy a combined 2 million metric tons of LNG annually from Alaska if the project is built; developer Glenfarne said it had commitments for 13 million tons annually and needed another 3 million tons to secure financing and make all commitments binding.
