Trump Says Taiwan to Invest in Alaska Gas Alongside South Korea's $50B Pledge

▲ U.S. President Donald Trump

U.S. President Donald Trump announced that Taiwan has also decided to invest $4.4 billion (approx. 5.9 trillion won) in the Alaska liquefied natural gas (LNG) development project.

During the announcement, he reiterated his claim that South Korea, which has yet to finalize its participation in the project, has "promised $50 billion (approx. 67 trillion won) in investments for Alaska."

Speaking at a midterm election campaign rally in Wasilla, Alaska, on the 13th (local time), President Trump said, "Taiwan just agreed to purchase 30% of the gas coming out of the (Alaska) pipeline for the next 20 years."

Emphasizing that "this guarantees the success (of the project)," he added, "It is one of the largest commitments in history and one of the biggest deals ever."

He also asserted, "Taiwan will pay for it, and the 20-year period guarantees its success."

Regarding the agreement with Taiwan, President Trump explained, "Taiwan will invest $4.4 billion in this project, on top of the $50 billion South Korea has already promised to Alaska."

President Trump previously claimed on September 30, while announcing South Korea's $200 billion energy investment project in the United States, that South Korea had decided to invest more than $50 billion in the Alaska LNG project.

However, the South Korean government maintains the stance that the investment has not yet been finalized.

President Trump also pressured for a swift agreement, warning that he would charge higher costs if South Korea fails to proceed with the Alaska LNG investment.

President Trump's strong focus on the Alaska LNG project stems from the fact that the region is classified as a key battleground in the upcoming November midterm elections, which are just three weeks away.

The Republican Party, whose Senate majority status is under threat, is locked in a fierce contest with the Democratic Party in Alaska.

Consequently, analysts interpret President Trump's direct visit to Alaska as an effort to help safeguard Republican Senate seats by presenting the LNG project investments by South Korea and Taiwan as a fait accompli, thereby highlighting them as major achievements of the current administration.

At the rally, President Trump mentioned Senator Dan Sullivan by name—who is seeking reelection—saying, "Two weeks ago, standing with Dan (current Alaska Senator Dan Sullivan) in the Oval Office of the White House, we announced a historic federal project to build an 800-mile (approx. 1,300 km) Alaska LNG pipeline."

He introduced it as "the largest energy infrastructure project in Alaska's history and one of the biggest projects in U.S. history."

Commerce Secretary Howard Lutnick also took the podium, noting that President Trump had secured a historic trade deal, and claimed, "President Trump elevated this (LNG) project to a federal-level initiative, and as a result, the Korean people—South Korea has promised to invest $50.1 billion to build the gas pipeline in Alaska."

This is interpreted as an emphasis on how President Trump secured massive investments from South Korea through tariff negotiations.

The investment scale mentioned by Secretary Lutnick is $100 million higher than the $50 billion previously announced by President Trump.

Immediately after these remarks, Secretary Lutnick shouted, "Build the line," prompting the audience to chant the same slogan with applause and cheers.

Secretary Lutnick continued, "President Trump told me, 'You need to do a better job with this project.' As a result of discussions with the Taiwanese government all week long, Taiwan agreed to purchase 30% of the volume produced through this pipeline and invest $4.4 billion."

President Trump also appealed for voter support by highlighting the economic benefits the Alaska LNG project will bring to the local economy.

He stated, "This massive project we just created for Alaska will create over 13,000 jobs and save the average household in Alaska more than $2,000 a year in energy costs."

He further asserted regarding the project, "All necessary permits have been approved. We could start construction tonight," warning that "if the Democratic candidate wins, all these projects will be halted."

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