Trump Set to Announce South Korea’s Strategic Investment Fund Investment in Alaska LNG Project

[Financial News] Two people familiar with the discussions said U.S. President Donald Trump could discuss using South Korea’s strategic investment fund for major U.S. projects, including the approximately $54 billion Alaska LNG Project, as early as the 30th (local time).
The move is viewed as part of a series of economic and investment announcements aimed at highlighting the Trump administration’s economic achievements and securing voter support ahead of the midterm elections in November. Recent nationwide polls show that President Trump’s job approval rating is below 40%, while voters have expressed particular concern about the war in Iran and high oil prices.
Alaska is considered a key stronghold for Republicans seeking to retain their majority in the U.S. Senate, and experts view it as a battleground state.
The Alaska LNG Project involves building a pipeline to transport natural gas extracted from Alaska’s North Slope to liquefaction facilities on the state’s southern coast. The processed gas is scheduled to be exported to Asian markets. Once completed, the project would become the first U.S. LNG project directly connected to the Asian market, the world’s fastest-growing source of LNG demand.
JERA, Japan’s largest LNG importer, and Tokyo Gas have already signed preliminary agreements to purchase a combined 2 million tonnes per year if the Alaska LNG Project is completed.
Glenfarne Group announced in March that it had secured purchase commitments for 13 million tonnes per year. The company said it must secure additional contracts totaling 3 million tonnes per year and convert its existing commitments into binding agreements to attract the final investment.
[email protected] Yoon Jae-jun Reporter