Trump expected to announce South Korea’s $54 billion investment in US Alaska gas pipeline

US President Donald Trump is expected to announce a major South Korean investment in the country tonight. It includes a $54 billion project to build a gas pipeline in Alaska.

The White House said Trump would present the Korean liquefied natural gas (LNG) project. The plan calls for gas extracted in northern Alaska to be sent to a port in the south of the state.

About 1,300 kilometers long and roughly one meter in diameter, the pipeline would carry natural gas to the port. There, it would be processed into LNG before being exported by ship to Asian markets.

US group Glenfarne will develop the project and hold a 75% ownership stake. The state of Alaska will own the remaining 25%.

However, the project faces technical and economic challenges. Even under the most optimistic forecast, it is not expected to begin operating before 2030.

Figures published by the project forecast about 12,000 jobs during construction and up to 1,000 jobs once it enters operation.

Alaskan authorities have supported the initiative for years, but its high costs and doubts about its economic viability have hindered progress.

In addition to its rich hydrocarbon reserves, the project area has an important ecosystem. It is home to endangered species, including polar bears, grizzly bears, caribou and many species of birds.

This has prompted opposition from biodiversity advocates. Meanwhile, Trump’s Republican administration has lifted some of the environmental restrictions and regulations imposed by the administration of former Democratic President Joe Biden.

Alaskan gas has also attracted interest in Asia. In September 2025, Japanese energy company JERA said it was considering buying significant quantities of LNG from the project. The statement followed a trade agreement between Japan and the US to increase Japanese imports of American hydrocarbons. Trump’s expected announcement comes just days after Interior Secretary Doug Burgum and Energy Secretary Chris Wright hosted delegations from Japan, South Korea and Taiwan in Anchorage. The meeting took place as part of an energy conference aimed at encouraging those Asian countries to buy gas from Alaska.