“We're thrilled to announce one of the largest energy infrastructure investments in American history. … The colossal package of investments we are announcing today is a major step toward securing our critical energy supply chain, ensuring American energy dominance and making our partnership with South Korea and the entire Pacific region stronger than ever before. … Dan Sullivan, the senator of Alaska, has been a great senator, and he's been working on this deal and other deals in Alaska, the pipeline, for almost 20 years.
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Five Weeks Before the Midterms, Trump Announces South Korea Will Put $54 Billion Into the Alaska LNG Pipeline — "One of the Largest Energy Infrastructure Investments in American History" — Alaska's Delegation Celebrates, and the Next Morning Seoul Says "Nothing Has Been Determined" About Whether to Invest at All
September 30, 2026
On Wednesday, Sept. 30, 2026, President Trump announced at the White House that South Korea would invest $54 billion in the long-stalled Alaska LNG project — an 800-mile gas pipeline from the North Slope to an export terminal — as part of $200 billion in South Korean energy investments under the 2025 U.S.–Korea trade deal, which also include nuclear power and a 6-gigawatt power plant in Texas. Trump said Korea had "paid to get [tariffs] reduced, and part of that money is going into this project," and credited Sen. Dan Sullivan as "totally responsible for this pipeline." Commerce Secretary Howard Lutnick said Korea would put "more than $50 billion into the Alaska project." Alaska's all-Republican congressional delegation and Gov. Mike Dunleavy celebrated in a joint release, and Sullivan's Democratic challenger, former Rep. Mary Peltola, also welcomed the news. No South Korean official appeared at the event. The next morning, Oct. 1, Seoul's industry ministry said Korea had agreed only to "begin a review" of the project "on the premise of commercial rationality" and that "nothing has been determined regarding whether to invest or the scale"; the ruling Democratic Party's secretary-general said participation "has not been finalized." To date Seoul has approved only the Texas project. The announcement came the same afternoon Trump called the Alaska Senate race, which features a second candidate named Dan Sullivan, "crooked as hell."
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“[On why Korea is funding the pipeline:] They paid to get them reduced, and part of that money is going into this project. … Otherwise, this project is so big it probably, I don't know, maybe the money wouldn't be available.
“[South Korea will put] more than $50 billion into the Alaska project.
“Alaska LNG is the single most important project for our state's future. The possibilities are limitless: providing low-cost energy for our hard-working families and businesses throughout our state for generations, creating thousands of good-paying jobs, attracting new industries and investment, supplying energy to our Alaska-based military, and giving young Alaskans more opportunities to build their futures here. … [At the White House:] This is going to be the biggest LNG project in our country. We will be able to get gas, of course, to Alaskans first and to our military.
“This unprecedented announcement moves our long-sought Alaska natural gas pipeline closer than ever to construction and operation. South Korea's commitment to invest $54 billion to build the gasline will deliver significant benefits for Alaskans, from good jobs to affordable energy.
“[Trump's announcement] was pretty void of detail. … I was disappointed that South Korea was not in the room. … [She does not] see them jumping in on this with actual cash. … What are they going to require for this $54 billion?
“This $54 billion investment in AKLNG represents a tremendous opportunity to build the infrastructure Alaska has talked about for decades and demonstrates what is possible when we put American resources on the table and refuse to give up on transformational opportunities for Alaska.
“This is another significant step forward for Alaska LNG and indicates Alaska's role as an energy supplier to our nation and our Pacific Rim allies. South Korea understands the tremendous opportunity Alaska LNG represents.
“Today's announcement is great news for Alaska, and I appreciate President Trump's work to unleash Alaska energy. I look forward to continuing this bipartisan work with the President as Alaska's next United States Senator.