U.S. Vice President Vance: “We’ll complete the Alaska LNG project, whether under South Korea’s current or next government”

[Financial News]  

U.S. Vice President JD Vance signaled on the 6th (local time) his determination to complete the Alaska liquefied natural gas (LNG) project. Although the U.S. and South Korean governments differ over investment in the project, he said it would be completed one way or another.
In an interview with Alaska broadcaster Alaska News Source, Vice President Vance said, “Frankly, I think there are some political dynamics in South Korea,” but insisted, “We’re going to complete this project, whether it’s with South Korea’s current government or its next government, and whether we have to work with Japan or another country.”
By calling the South Korean government’s position—that it would consider the LNG project on the basis of its commercial viability—“political dynamics,” he acknowledged a divergence between the two countries. At the same time, this underscored that the Trump administration would push ahead with the LNG project despite the disagreement.
Vance stressed that demand for Alaskan gas was high and that the Trump administration was determined to pursue the project, saying, “We’re going to get this done.” He also claimed that people were eager for gas produced in Alaska because it was “cheaper, higher quality and more reliable than gas from some insignificant dictatorships.”
The controversy began when President Trump announced on the 30th of last month a $200 billion South Korean investment project in the U.S. energy sector, saying South Korea had agreed to invest $50 billion in the Alaska LNG project.
The South Korean government countered that the investment had not been finalized, while Trump pressured it, warning that he would demand a higher price if it did not invest in LNG.
Trump’s overreach appears to stem from the increasingly uncertain midterm election outlook in Alaska, a traditionally Republican stronghold. Some recent polls have shown Democratic Senate candidate Mary Peltola leading Republican Senator Dan Sullivan.
At a rally where Vance was campaigning for him, Senator Sullivan claimed of the LNG project, “The funding is secured. There’s been a lot of discussion about negotiations and the project structure, but securing the funding is the biggest difference from before.”

[email protected] Song Gyeong-jae Reporter