By Nandita Bose and Timothy Gardner
October 2 - U.S. President Donald Trump stated on Friday that he did not "jump the gun" when announcing South Korea's investment in the Alaska LNG project. This liquefied natural gas initiative has been in the works for many years but still lacks firm commitments.
On Wednesday, Trump announced plans for South Korea to invest $200 billion in U.S. projects. However, Seoul quickly indicated that one key aspect—a $54 billion pipeline for the LNG project in Alaska—is not finalized yet.
Trump responded to this by saying, "I didn’t jump the gun. They were there, and they were represented. If they don’t want to do it, that’s okay with me. I’ll just charge them more," during a press conference at the White House.
He also mentioned that the U.S. trade deal with South Korea includes $8.4 billion for a project to extract crude oil from an aging oilfield. However, an official from South Korea's industry ministry expressed surprise at this claim.
According to that official, the agreement is limited to what was outlined in a joint fact sheet released by Seoul and Washington in November 2025. Press officials at the South Korean embassy in Washington could not be reached for immediate comment.
Trump’s effort to direct South Korean investment towards the Alaska LNG project is drawing new attention to a undertaking that is expected to cost over twice as much as a similar project on the U.S. Gulf Coast.
The initiative involves building a pipeline that will stretch more than 800 miles (about 1,300 km) from the North Slope to an LNG liquefaction facility at Nikiski, a southern port in Alaska.
Trump stated that South Korea's $200 billion investment would also fund the construction of eight large nuclear power plants, a natural gas pipeline, and a 6-gigawatt power plant in Texas.
This announcement represents the initial set of major projects under a broader $350 billion strategic investment plan that South Korea agreed to as part of a trade deal with Washington last year.