President Trump Announces Major Alaska Energy Deal With South Korea and Taiwan

President Trump announced a $50 billion investment from South Korea in the Alaska LNG Project, along with a new agreement secured by Commerce Secretary Howard Lutnick for Taiwan to purchase between $70 billion and $80 billion in natural gas over the next 20 years. The agreement would account for 30% of the pipeline’s capacity.

Trump also announced that Taiwan has agreed to invest an additional $4.4 billion in equity in the project. According to the president, all necessary permits and authorizations have been secured, paving the way for what he calls the largest energy infrastructure project in Alaska's history.