Washington, Oct 1 (IANS) South Korea’s government will invest up to $200 billion in US energy projects, including eight nuclear power plants and a long-planned natural gas pipeline in Alaska, President Donald Trump has announced.
It includes $54 billion for Alaska LNG and another six-gigawatt power generation facility in Texas.
“Today, we’re thrilled to announce one of the largest energy infrastructure investments in American history,” Trump said at a White House event on Wednesday (local time).
Trump said the South Korean government would finance the projects through agreements negotiated by his administration.
“Thanks to the agreements my administration has secured with the Republic of Korea, they will invest up to $200 billion; that’s the Korean government, $200 billion to build a six-gigawatt power generation facility in Texas.”
He then listed the other projects.
“Eight new large-scale nuclear power plants and, at long last, an Alaska liquefied natural gas pipeline.”
The Alaska project would carry natural gas through an 807-mile, or roughly 1,300-kilometre, pipeline from the state’s North Slope to an export terminal in southern Alaska.
The terminal is designed to produce up to 20 million metric tonnes of liquefied natural gas annually, according to the White House. LNG is natural gas cooled into liquid form so it can be transported by ship.
The White House said the pipeline would also provide a reliable, year-round gas supply for Alaska residents and lower their energy costs. Those benefits depend on the project being developed.
The announcement concerns investment commitments. Trump’s description of funding of “up to $200 billion” sets a ceiling; it does not establish that the entire amount has been transferred or spent.
A White House official, speaking on background before the event, linked the projects to the broader $350 billion trade deal and strategic investment memorandum between the United States and South Korea.
The official said the investments would advance US energy projects and strengthen trade, investment and energy security between the two countries.
Trump credited Republican Sen. Dan Sullivan of Alaska with pursuing the pipeline project and thanked him for his involvement.
Commerce Secretary Howard Lutnick, Interior Secretary Doug Burgum and Energy Secretary Chris Wright joined Trump at the event. Alaska Rep. Nick Begich was also present.
The November 2025 US-South Korea framework included $150 billion in shipbuilding investment and $200 billion in additional strategic investment. A joint White House fact sheet said South Korea would not be required to provide more than $20 billion in US dollars in any calendar year.
Alaska LNG received US federal regulatory authorisation in May 2020. Its developer describes two financially independent phases: a pipeline supplying Alaska’s domestic market, followed by a liquefaction facility and related infrastructure at Nikiski to enable exports.
Glenfarne owns 75 per cent of the project, while the state of Alaska holds the remaining 25 per cent through the Alaska Gasline Development Corporation.
–IANS
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