Trump says Taiwan agreed to buy 30% of Alaska LNG output for 20 years

U.S. President Donald Trump announced at a rally in Wasilla, Alaska, that Taiwan has agreed to purchase 30 percent of the output from an Alaska pipeline project over a 20-year period. According to Investing.com, Commerce Secretary Howard Lutnick stated at the same rally that Taiwan has committed to investing $4.4 billion in the development of the pipeline.

The Ministry of Economic Affairs issued a statement saying the cooperation involves an estimated investment of up to US$4.4 billion and the annual procurement of six million metric tons of Alaska LNG once production begins. If the project follows its planned timeline, it is expected to supplement domestic natural gas supplies as early as 2032, according to the ministry.

Quartz reports that Taiwan's state energy firm, CPC Corp, signed an agreement with Alaska Gasline Development Corp last year to invest in the project and purchase LNG.

Following Trump's remarks, Taiwan Premier Cho Jung-tai told reporters that the government's responsibility is to stabilize and build resilience in the energy supply. Investing.com notes that while Trump discussed the 30 percent purchase agreement, the specific terms of the deal were not immediately clear.

Brief written by urgent.news from Quartz, New Straits Times, Investing.com, CNBC World, CNBC — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.