US repeats South Korea Alaska LNG investment claim as Seoul keeps review open
In short
The White House said South Korea would invest $54 billion in Alaska LNG, while Seoul says it has not decided whether to participate. Trump also claimed Taiwan would invest $4.4 billion; Taiwanese officials described purchase and investment plans, with contract terms still under discussion.
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The White House again described South Korean investment in Alaska's liquefied natural gas project as agreed, despite Seoul's position that no investment decision has been made. At her first official briefing on October 13, spokesperson Katie Zacharia said $54 billion would be invested in Alaska LNG pipelines and terminals. Yonhap and Chosun Ilbo reported that South Korea had only begun examining the project's commercial viability. [ 2 , 3 , 6 ]
Zacharia presented the Alaska project as part of an energy investment package of up to $200 billion that she said President Donald Trump had unveiled. She also cited up to $120 billion for eight nuclear power plants and $22.3 billion for a 6-gigawatt natural gas power plant in Texas. The White House separately included the $54 billion Alaska investment figure in a release accompanying Trump's visit to the state. [ 1 , 2 ]
Reports differed on the nuclear project's status. Yonhap and Chosun Ilbo said only the Texas power plant had been confirmed and that the nuclear and Alaska projects required further discussions on commercial viability. Newsis, by contrast, described the nuclear project and Texas plant as agreed, while also reporting that the Alaska investment remained unconfirmed. [ 2 , 3 , 4 ]
At a campaign rally in Wasilla on October 13, Trump said Taiwan would invest $4.4 billion on top of $50 billion he said South Korea had promised. He also said Taiwan had agreed to buy 30% of the gas supplied through the Alaska pipeline over 20 years. South Korea continued to say its participation was not settled, according to Newsis. [ 26 ]
Taiwan's economy ministry said CPC was pursuing annual purchases of 6 million tonnes of Alaska LNG and estimated maximum investment at $4.4 billion, Newsis reported. A later Newsis report quoted Alaska Gasline Development Corporation president Frank Richards as saying negotiations on prices and contract terms were ongoing. That report described the earlier purchasing arrangement as a nonbinding preliminary agreement. [ 34 , 38 ]
Why it matters
South Korea says the Alaska project must meet commercial viability requirements before investment is decided. Taiwanese officials link their plans to stable energy supplies, while reports say pricing and contract conditions remain under negotiation.
Key facts
- Katie Zacharia said at her first White House briefing on October 13 that $54 billion would go to Alaska LNG pipelines and terminals. [ 2 , 6 ]
- South Korea says its Alaska LNG investment decision has not been made and commercial viability is under review. [ 2 , 3 ]
- Trump said in Wasilla on October 13 that Taiwan would invest $4.4 billion in addition to $50 billion he said South Korea had promised. [ 1 , 26 , 38 ]
- Taiwan's economy ministry says CPC is pursuing purchases of 6 million tonnes of Alaska LNG annually, with maximum investment estimated at $4.4 billion. [ 34 ]
- Newsis reported that negotiations on gas pricing and contract conditions were continuing. [ 38 ]
Confirmed by several sources
Still unclear
- Whether and how much South Korea will invest in Alaska LNG. Seoul says it has not made an investment decision and is reviewing commercial viability.
- The final terms and binding status of Taiwan's participation. Newsis says pricing and contract negotiations continue and describes the earlier arrangement as nonbinding.
- Whether the nuclear power investment is finalized. Yonhap and Chosun Ilbo describe further review as necessary; Newsis describes it as agreed.
What local media are saying
Timeline, local time
- On October 14, Yonhap reported the spokesperson's $54 billion Alaska investment claim and Seoul's undecided position. [ 2 ]
- On October 14, Newsis reported Trump's Taiwan investment and gas-purchase claims from the Wasilla rally. [ 26 ]
- On October 14, Newsis reported continuing gas-price and contract negotiations. [ 38 ]