Trump Announces $54 Billion South Korean Investment in Alaska Gas Pipeline

President Donald Trump announced Wednesday that South Korea will invest roughly $54 billion in a natural-gas pipeline linking Alaska's North Slope to a liquefied natural gas export terminal. The project, long supported by Republican Sen. Dan Sullivan, is part of a broader trade agreement that promises $350 billion in U.S. investments in exchange for reduced tariffs on South Korean automobiles and parts.

"He's got my ear, and he's had my ear for a long time on Alaska," Trump said during an Oval Office event with Sullivan, adding that the energy projects are his achievement.

Sullivan said the pipeline, which would stretch about 807 miles, could lower energy costs for Alaskans and that the work could be completed in three years, with LNG exports beginning two years later, pending full financing.

The announcement follows a similar Trump-led promotion of a $15 billion steel plant in Iowa, underscoring the administration’s focus on foreign investment in states where Republican Senate candidates face competitive races.

Trump linked the South Korean investment to his tariff reductions, stating that the agreement required the foreign partner to invest “hundreds of billions of dollars.” He also noted his intention to travel to key states in the weeks before the 2026 midterm elections.