President Donald Trump will announce on Wednesday (September 30, 2026) plans for South Korea to invest $200 billion in U.S. projects, including $54 billion to build the long-planned Alaska liquefied natural gas project, a White House official said. U.S.
The announcement would be part of a series of economic and investment deals Trump is highlighting ahead of November’s midterm elections, as he seeks to reinforce his economic record amid voter concerns over the Iran war and high gasoline prices. The Alaska LNG project also comes as Republicans seek to retain incumbent Senator Dan Sullivan who faces Democrat Mary Peltola. The project has faced years of uncertainty over its cost, financing and commercial viability.
The White House official said the investments would include the Alaska LNG pipeline project, eight large-scale nuclear power plants and a 6-gigawatt power generation facility in Texas. The Alaska LNG project would include an 807-mile pipeline carrying natural gas from the North Slope to a liquefaction facility on Alaska’s southern coast, allowing the fuel to be shipped to Asian markets. The project is designed to transport about 3.9 billion cubic feet of natural gas per day and produce up to 20 million metric tons of LNG annually, according to the White House.
“Today, President Trump will announce major energy infrastructure investments that deliver on his day one promises to unleash American energy, unlock Alaska’s extraordinary resource potential, and accelerate America’s nuclear energy renaissance,” White House spokeswoman Taylor Rogers said. South Korea’s investment could provide a potential source of financing, although Seoul has previously said projects under its U.S. investment package must meet commercial viability standards.
The ministry was also considering the construction of eight large nuclear reactors and the Alaska LNG project. South Korea’s industry ministry said last week that a more than 6-gigawatt gas-fired power plant in Encinal, Texas, was the first project selected under the $200 billion strategic investment program.
“Before considering political needs or diplomatic demands, however, it was necessary to thoroughly verify the commercial rationale and viability of any investment that put a tremendous burden on the public,” Kim Sung-won, a South Korean lawmaker who chairs parliament’s trade committee, told Reuters on Wednesday.
