Vance says U.S., S. Korea still need to 'work out' details of Alaska gas project

Washington, Oct. 5 -- U.S. Vice President JD Vance asserted on Monday that the United States and South Korea must still finalize specifics of an Alaska liquefied natural gas (LNG) project, despite expressing confidence in its eventual success due to robust Asian demand for American gas. Vance made these remarks, as reported by a White House pool, emphasizing that the pipeline is highly desirable to both the U.S. and its Asian allies, including Japan.

He added that East Asian economies currently experiencing higher natural gas prices stand to benefit from enhanced U.S. gas supplies. President Donald Trump recently unveiled South Korea's U.S. investment initiatives under their bilateral trade pact, which include the construction of a gas-fired power plant in Texas, eight large-scale nuclear power plants, and the Alaska LNG project.

However, the South Korean industry ministry cautioned that the Alaska LNG project has not been officially approved, citing the need for further review of its commercial viability and other pertinent factors before any investment decision can be made.