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4mo ago

U.S. and South Korea Deepen Talks on $44 Billion Alaska LNG Project

American officials emphasize Korea’s pivotal role in energy exports and supply chain diversification during bilateral discussions in Seoul.

Acting President Han Duck-soo (R) meets with Alaska Gov. Mike Dunleavy at the government complex in Seoul on March 25, 2025, in this photo provided by Han's office. (PHOTO NOT FOR SALE) (Yonhap)
This image, captured from the website of the U.S. Department of Energy, shows Tommy Joyce, acting assistant secretary for international affairs at the department. (PHOTO NOT FOR SALE) (Yonhap)
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Overview

  • U.S. Department of Energy officials and Alaska Governor Mike Dunleavy highlighted the Alaska LNG project as a key initiative to strengthen energy ties with South Korea at an AMCHAM forum in Seoul on April 18.
  • The $44 billion project aims to construct a 1,300-kilometer pipeline from Alaska’s North Slope to export natural gas to Asia, with South Korea's involvement under active consideration.
  • DOE Acting Assistant Secretary Tommy Joyce underscored South Korea's importance in advancing President Trump's strategy to expand American energy exports and reduce reliance on China.
  • South Korean firms, including Hanwha Group and POSCO Holding, have already shown significant interest in U.S. energy assets, complementing broader trade discussions.
  • Korean ministers are scheduled to visit the U.S. later this month to further discuss potential investments and tariff negotiations tied to energy cooperation.