Trump Announces $54 Billion South Korean Pledge For Alaska Gas Pipeline
President Donald Trump announced a roughly $54 billion South Korean investment pledge for an 807-mile Alaska natural gas export pipeline on Wednesday, September 30, 2026.[1]
The project calls for an 807-mile pipeline from Alaska's North Slope to a liquefied natural gas terminal in southern Alaska and is pitched as a way to lower energy costs inside the state.[1] Trump tied the funding pledge to commitments under a 2025 U.S.-South Korea trade agreement that had promised $350 billion in U.S. investments in exchange for lower U.S. tariffs on South Korean goods.[1]
Sen. Dan Sullivan has been a persistent advocate for the gas project, using his Senate role to court South Korean partners while facing a tight 2026 re-election contest against Democrat Mary Peltola.[1]
Two days earlier, Trump announced a separate $15 billion foreign-backed steel plant plan in Iowa, another state with a competitive Senate contest.[1]
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📌 Key Facts
- On Wednesday, September 30, 2026, Trump announced a roughly $54 billion South Korean investment pledge for an Alaska natural gas export project.
- The project entails an 807-mile pipeline from Alaska's North Slope to a liquefied natural gas terminal in southern Alaska, aimed partly at lowering in-state energy costs.
- The investment is tied to pledges under a 2025 U.S.–South Korea trade deal that promised $350 billion in U.S. investments in exchange for lower U.S. tariffs on South Korean goods.
- Sen. Dan Sullivan, a two-term Alaska Republican in a tight 2026 Senate race against Democrat Mary Peltola, has been a persistent advocate for the gas project and South Korean investment.
- Two days earlier, on September 28, 2026, Trump announced a separate $15 billion foreign-backed steel plant plan in Iowa, another state with a competitive Senate contest.
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