Trump Announces $54 Billion South Korean Pledge For Alaska Gas Pipeline
On Wednesday, September 30, 2026, President Trump announced at the White House that South Korea will invest $54 billion in an 807-mile Alaska natural gas pipeline linking the North Slope to an Alaska LNG terminal.[1]
Commerce Secretary Howard Lutnick said the pipeline would produce LNG that could be exported to Asia and also supply Alaska.[1] Officials projected construction would take about three years, with LNG exports beginning roughly two years after that if full financing is secured.[1] The White House presented the Alaska project as part of nearly $200 billion in planned South Korean investments across the United States, but it gave few details on the other projects.[1] Officials acknowledged uncertainty about how quickly South Korea's government will approve the plan and how much it will finally spend on the pipeline.[1]
The announcement was President Trump's second foreign-investment reveal in three days in states with competitive GOP Senate races, part of a push ahead of the midterm elections.[1] PBS posted video of the White House event, showing the president touting the deal.[2]
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📌 Key Facts
- On Wednesday, September 30, 2026, President Trump announced at the White House plans for South Korea to invest in an 807-mile Alaska natural gas pipeline linking the North Slope to a liquefied natural gas export terminal in southern Alaska (807-mile Alaska natural gas pipeline).
- Commerce Secretary Howard Lutnick said the liquefied natural gas produced could be exported to Asia as well as supply Alaska, and officials projected pipeline construction would take about three years with LNG exports beginning roughly two years after that, contingent on full financing (Howard Lutnick).
- The White House framed the Alaska pipeline as part of nearly $200 billion in planned South Korean investments in U.S. projects, including a Texas power plant and eight large-scale nuclear power plants, though further details on those investments remain unclear (nearly $200 billion).
- The report notes uncertainty over how quickly South Korea's government will approve the project and how much it will ultimately spend on the Alaska pipeline (South Korea's government).
- CBS News placed the Alaska announcement within President Trump's pre-midterm political strategy, noting it was his second foreign-investment announcement in three days in states with competitive GOP Senate races and that his approval ratings are near historic lows ahead of the elections (CBS News).
📰 Source Timeline (2)
Follow how coverage of this story developed over time
- On Wednesday, September 30, 2026, President Trump announced at the White House plans for South Korea to invest in an 807-mile Alaska natural gas pipeline linking the North Slope to a liquefied natural gas export terminal in southern Alaska.
- Commerce Secretary Howard Lutnick said the liquefied natural gas produced could be exported to Asia as well as supply Alaska, and officials projected pipeline construction would take about three years, with LNG exports beginning roughly two years after that, contingent on full financing.
- The article notes uncertainty over how quickly South Korea's government will approve the project and how much it will ultimately spend on the Alaska pipeline.
- The White House framed the Alaska pipeline as part of nearly $200 billion in planned South Korean investments in U.S. projects, including a Texas power plant and eight large-scale nuclear power plants, though further details on those investments remain unclear.
- The piece places the Alaska announcement within President Trump's pre-midterm political strategy, noting it is his second foreign-investment announcement in three days in states with competitive GOP Senate races, and that his approval ratings are near historic lows ahead of the elections.