By Jennifer A. Dlouhy and Stephen Stapczynski
Oct 14, 2026 (Bloomberg) - President Donald Trump announced that Taiwan agreed to purchase 30% of the liquefied natural gas (LNG) from a planned project in Alaska for a duration of 20 years. However, officials from Taiwan indicated that no final agreements have been made yet.
Trump also mentioned that Taiwan would invest an additional $4.4 billion to help complete the project, promoting it ahead of the upcoming US midterm elections. He made these announcements during a campaign event in Alaska, claiming that the agreements ensure the project's success despite skepticism about its actual construction.
The Alaska LNG project has faced challenges for decades in securing the long-term contracts and investments required to move forward. Earlier this month, Trump claimed South Korea would invest $54 billion in the project, but the country's industry minister later clarified that the investment depends on its commercial viability.
Taiwan plans to buy 6 million tons of LNG each year from the export project and take part in its development. However, the Ministry of Economic Affairs stated that specific investment details, equity stakes, and related terms will be determined through future negotiations and contracts.
If everything goes as planned, the project is expected to start supplying gas by 2032 at the earliest. This project is crucial for Taiwan's efforts to diversify its energy sources.
Taiwan's CPC Corp. has previously signed a non-binding letter of intent to consider investing in the project. CPC will continue to work with relevant U.S. entities on procurement and investment matters while conducting project studies and budget approvals according to corporate procedures.
Currently, the war in the Middle East has disrupted energy flows through the Strait of Hormuz, which used to carry about a fifth of the world's LNG. This situation has prompted importers like Taiwan to seek alternatives. Taiwan, which heavily relies on imported energy, has been increasingly looking to the U.S. and last year announced plans to triple the share of American LNG in its total imports to 30% over the next decade.
The Alaska project is enormous, requiring the construction of an 800-mile (1,287-kilometer) pipeline across the state, along with several billion-dollar liquefaction facilities to prepare the gas for export.
This project is politically significant for Trump and the Republican Party, especially with the elections on Nov. 3 approaching, which will determine control of Congress. There is a competitive Senate race in Alaska, and Trump is supporting the Republican incumbent, Dan Sullivan, who has been a strong advocate for the pipeline.
On Tuesday, Trump also claimed that all necessary permits for the LNG project's construction had been approved.
Trump’s visit to Alaska highlights the challenges facing the Republican Party just three weeks before Election Day. The GOP is dealing with numerous close House and Senate races as it tries to maintain its Congressional control, including in states like Alaska that have traditionally been favorable for the party.
Trump has been traveling the country to support Republican candidates, though his visits have mostly been limited to states considered GOP strongholds. His approval ratings are at historic lows, largely due to voter discontent over living costs and the ongoing Iran war, which has led to increased energy prices, making him a liability for some Republican candidates.
With Democrats needing to flip four seats to take control of the Senate, Sullivan's unexpectedly tight re-election race against former Democratic Representative Mary Peltola has raised concerns among Republicans. The last time Alaska elected a Democrat to the US Senate was nearly 20 years ago.
Vice President JD Vance also visited Alaska last week to support Sullivan and US Representative Nick Begich.