South Korea is considering a potential $54 billion investment in the long-delayed Alaska LNG project as part of a broader US energy investment package, US President Donald Trump said on September 30.
However, the announcement does not represent a final investment commitment. South Korean officials said the two countries had agreed to assess the project’s commercial feasibility before proceeding.
The Alaska LNG project would transport natural gas from Alaska’s North Slope through an 807-mile pipeline to a liquefaction and export terminal at Nikiski on the Kenai Peninsula. The proposed facility is designed to produce up to 20 million tonnes of LNG annually, primarily for Asian markets.
Glenfarne Group is the project’s lead developer and majority owner, holding a 75% stake acquired in 2025 from the Alaska Gasline Development Corp. (AGDC), which retains 25%
