Trump to Tap South Korea's $350B Pledge for $54B Alaska LNG Investment

President Donald Trump is expected to announce Wednesday that roughly $54 billion of South Korea's $350 billion strategic investment package will fund an Alaska liquefied natural gas facility and other U.S. projects, according to two people familiar with the discussions. The White House scheduled an announcement for 3:30 p.m. ET without detailing its subject. The Alaska LNG project includes a pipeline moving natural gas from the North Slope to a liquefaction facility on the state's southern coast for shipment to Asian markets. Developer Glenfarne said in March it had secured commitments for 13 million tons a year but needs another 3 million tons to reach financial close. Japan's JERA and Tokyo Gas have signed preliminary deals to buy a combined 2 million tons annually. The package stems from a 2025 U.S.-South Korea trade agreement. South Korean lawmakers, including trade committee chairman Kim Sung-won, have questioned the projects' commercial viability and fiscal burden ahead of November's U.S. midterm elections.