WASHINGTON — An Alaska liquid natural gas pipeline project is facing questions about its future after South Korean officials said there are still several conditions that must be met, one day after President Trump announced a $54 billion investment from Seoul.
“No decision has been made on whether to invest or on the size of the investment,” South Korea’s interior ministry said in a statement, while not disputing interest in the planned 807-mile pipeline meant to transport natural gas from Alaska’s North Slope to Asian markets.
Trump had announced South Korea’s money would go toward construction of eight large-scale nuclear power plants, a six-gigawatt power generation facility in Texas, and the gas pipeline, which the president touted as a “huge” deal for The Last Frontier during an event attended by endangered Sen. Dan Sullivan (R-Alaska).
The investment, the White House said, was part of $350 billion in US investments pledged by Seoul as part of a trade deal agreed in July 2025.
But South Korean President Lee Jae Myung said several conditions must still be met.
“Among the US investment projects announced by the United States, the Alaska LNG project will proceed to working level under the preconditions that 1) its commercial viability is confirmed and 2) it complies with the legal procedures of the Republic of Korea,” Lee wrote in a post on X.
Industry Minister Kim Jung Kwan, also objected to the US announcement of the investment.
“Putting out figures, or using definitive language, goes far beyond what was agreed,” he told reporters, adding that he had spoken to Commerce Secretary Howard Lutnick to express his dismay.
“Yesterday’s joint announcement was historic for the great state of Alaska, the United States, and the Republic of Korea,” White House spokeswoman Taylor Rogers said in a statement without addressing the South Korean concerns.
“The President and Alaskans look forward to the construction and completion of this long-anticipated project that will create 12,000 construction jobs and 1,300 permanent operation jobs in the state, generate $25 billion in state and local revenue, and provide $10 billion in Alaska energy savings.”
Wednesday’s announcement was part of a slew of manufacturing and jobs plans the White House meant to unveil ahead of the Nov. 3 midterm election in an attempt to boost Republican candidates.
Sullivan, facing a tough re-election race against Democratic former Rep. Mary Peltola, has been a huge proponent of the pipeline project. His seat is critical for Republicans to keep control of the Senate after Trump won Alaska by double digits in the 2024 election.
Trump on Wednesday touted the project as “a gigantic win for the people of Alaska” that will “create up to 12,000 construction jobs immediately.”
“In our trade agreement with South Korea, they have to invest hundreds of billions of dollars, and for doing that, I reduced their tariffs to 15%. But they paid to get them reduced, and part of that money is going into this project,” added the president.
Experts say it will take at least five years for the project to come online once construction begins.
