Trump Says Taiwan to Invest in Alaska LNG Project Alongside South Korea's USD 50 Billion Pledge

U.S. President Donald Trump announced on the 13th (local time) that Taiwan has also decided to invest USD 4.4 billion (approx. 5.9 trillion won) in the Alaska liquefied natural gas (LNG) development project.

In the process, he repeatedly claimed that South Korea, which has not yet finalized its participation in the project, has "promised a USD 50 billion (approx. 67 trillion won) investment in Alaska."

President Trump made the remarks during a campaign speech supporting the midterm elections in Wasilla, Alaska, stating, "Taiwan has just agreed to purchase 30 percent of the gas coming out of the [Alaska] pipeline over 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 made."

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

The Taiwanese government has also officially confirmed its plans to purchase Alaska LNG and participate in the development project.

In a statement released on the 14th, Taiwan's Ministry of Economic Affairs stated that state-run energy company CPC Corporation, Taiwan plans to purchase 6 million tons annually once Alaska LNG production begins and participate in the development project.

The ministry projected that the expected investment amount could reach up to USD 4.4 billion, explaining that significant progress has been made following intensive negotiations and careful evaluation over approximately a year and a half since CPC Corporation, Taiwan signed a letter of intent (LOI) for LNG procurement and investment with the U.S. side in March of last year.

However, it added that specific investment plans, equity stakes, and related conditions will be determined through further negotiations and commercial contracting procedures, and that CPC Corporation, Taiwan will proceed with project reviews and budget approval procedures in accordance with internal regulations.

It also projected that if the Alaska LNG development project proceeds as planned, natural gas could be supplied to Taiwan as early as 2032.

Emphasizing that Alaska holds a geographical advantage enabling direct natural gas transportation to Taiwan via Pacific shipping routes, the ministry noted that this project will help diversify natural gas sources and strengthen the stability of energy supply.


President Trump explained, "Taiwan will invest USD 4.4 billion in this project, in addition to the USD 50 billion South Korea has already promised to Alaska."

President Trump previously stated on September 30 while announcing South Korea's USD 200 billion energy sector investment project in the U.S. that South Korea had decided to invest over USD 50 billion in the Alaska LNG project.

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

In response, President Trump has pressured for a swift agreement, warning that he would charge a heavier cost if South Korea fails to undertake the Alaska LNG investment.

President Trump's strong push for the Alaska LNG project is attributed to the fact that the region is classified as one of the key battlegrounds in the upcoming midterm elections three weeks away in November.

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

Consequently, President Trump is interpreted as having visited Alaska in person to help secure Republican Senate seats, presenting the LNG project investments by South Korea and Taiwan as fait accompli and highlighting them as major achievements of the current administration.

During his speech, President Trump mentioned Senator Dan Sullivan, who is seeking re-election, stating, "Two weeks ago, standing in the Oval Office of the White House with Dan [current Alaska Senator Dan Sullivan], we announced a historic federal project to build an 800-mile [approx. 1,300 km] long Alaska LNG pipeline."

He introduced it, saying, "This is the largest energy infrastructure project in Alaska's history and one of the largest projects in U.S. history."

U.S. Secretary of Commerce Howard Lutnick also took the podium and, after mentioning that President Trump had clinched a historic trade deal, claimed, "President Trump elevated this [LNG] project to a federal-level initiative, and accordingly, the Korean people, South Korea, have promised to invest USD 50.1 billion to build the gas pipeline in Alaska."

This is interpreted as an emphasis on the point that President Trump extracted massive investments from South Korea through tariff negotiations.

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

Immediately after these remarks, when Secretary Lutnick shouted "Build the line," the audience joined in chanting the same slogan with applause and cheers.

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

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

He stated, "This massive project that we just created for Alaska will create more than 13,000 jobs and allow average families in Alaska to save more than USD 2,000 a year in energy costs."

He also asserted regarding the project, "All necessary permits have been approved. We can start construction tonight," and warned, "If a Democratic candidate wins, all of these projects will be halted."

(Photo: AP, Getty Images, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.