Trump-backed Alaska LNG revival still faces viability questions in Korea
With a discrepancy emerging between Korea and the U.S. over a proposed investment of more than $50 billion in the Alaska liquefied natural gas (LNG) project, questions are growing over whether the project can generate sufficient commercial returns for Seoul. U.S. Secretary of Commerce Howard Lutnick said Wednesday (local time) Korea would invest about $54 billion (73.4 trillion won) in the Alaska…
A proposed $50 billion+ investment in the Alaska liquefied natural gas (LNG) project is facing uncertainty as Korea and the United States struggle to agree on the deal's viability. U.S. Secretary of Commerce Howard Lutnick announced that Seoul would contribute approximately $54 billion (73.4 trillion won) to the project in its $200 billion investment package to Washington.
The White House framed this as a firm investment, while Korea insists participation depends on further review of the project's "commercial reasonableness."
The Alaska LNG project has been wrestling with economic challenges for over a decade as it seeks to compete with nearby LNG projects. The undertaking involves transporting natural gas from Alaska's North Slope via a roughly 1,300-kilometer pipeline to Nikiski, where it would be liquefied and shipped primarily to Asian markets. Glenfarne Group holds a 75 percent stake in the project alongside state ownership.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Let Korea decide Alaska LNG investment koreatimes.co.kr
