Trump to announce $54 billion Alaska LNG plant as part of South Korea trade deal

NY Post ^ | 09/30/2026 | Emily Goodin

[DFG]

President Trump will announce a $54 billion overseas investment in the battleground state of Alaska later Wednesday, part of a slew of manufacturing and jobs plans the White House is unveiling ahead of the Nov. 3 midterm election.

The money from South Korea will build a liquified natural gas facility as part of $350 billion in US investments pledged by Seoul as part of a trade deal agreed in July 2025.

Sen. Dan Sullivan (R-Alaska), who is facing a tough re-election campaign, is expected to join Trump and Commerce Secretary Howard Lutnick in the Oval Office for the announcement.

Wednesday’s announcement will come one day after the president confirmed plans for Minnesota-based Mesabi Metallics to construct the largest steel plant in American history in eastern Iowa.

On Thursday, Trump will visit a Peterbilt Motors factory in Denton, Texas to tout his administration’s job creation record.

The president also said Tuesday that he plans to make a 32-day campaign swing to boost Republican candidates as his party fights to keep control of Congress, with an Alaska visit one of the possibilities under consideration.

The LNG export terminal is meant to anchor an 807-mile pipeline to the resource-rich North Slope of the Last Frontier, the largest proposed energy infrastructure project in US history. Sullivan is a longtime supporter of the project.

Trump has said repeatedly he wants America to have absolute “energy dominance” and has prioritized opening federal lands and offshore waters for oil, natural gas, and coal development.

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TOPICS: US: Alaska
KEYWORDS: alaska; dansullivan; lng; southkorea

[FLT-bird]

We are building a $50 billion natural gas pipeline across Alaska to allow us to finally tap the abundant natural gas on the North Slope. It makes sense to build an LNG terminal in the south. This will generate a LOT of money for Alaska and for America and provide many jobs. It will also enable us to supply American allies in the Pacific like Japan, South Korea, etc.

[shotgun]

When are they going to start to build new refineries? That is the choke point in the system.

Preferably site them in non-hurricane locations.

[miliantnutcase]

Indeed. On top of CA strategically shuttering 3 refineries to try and screw Republicans.

[cymbeline]

I’m all for building that steel mill, but don’t they produce some stinky bi-products. That doesn’t bother me, but what about the greenies?

[JayGalt]

Does anyone have anything concrete to offer about whether the jobs at the steel mill & the announced Alaska facility are pledged to go first to American workers rather than via H1B visa?

[gibsonguy]

For years the rats have been trying to shut refineries and blocking new ones. I wish the process of fixing that was a higher priority but there is so much damage the rats have done in so many areas it is almost overwhelming.

[kaktuskid]

Don’t think the H1Bers like ice and snow.

[chuckee]

Canada was planning on diversifying away from the US and marketing its lng to Asia. As you mention, they are building that big distribution plant on the West Coast and running a pipeline thru BC to it. This may put a wrench in their plans down the road. The new U.S.–South Korea–Alaska LNG project directly threatens Canada’s competitive position, especially for Asian buyers, because Alaska offers shorter shipping routes and strong Korean/Japanese interest. If they hated their southern nemesis yesterday, they hate them even more today. lol

[Texas resident]

Trump is playing a high stakes game with Canada.
Either do business with us or be left out in the cold.

[ridesthemiles]

CHOKE THE GREENIES

[FLT-bird]

Canada won’t let a pipeline through BC. The government in Ottawa may have OK’d it but it has to go through tribal lands and private property and they routinely sue to stop pipelines from being built and in the Canadian courts, they win. That’s why Alberta’s only real outlet has been pipelines to the US.

[DUMBGRUNT]

The South Korean government has noted that the project is still under review and must meet strict commercial viability standards, meaning formal execution details have not been fully finalized.

If it comes to pass, it will be an LNG liquefaction barge or two, towed in from Korea.

[Sequoyah101]

If it comes to pass, it will be an LNG liquefaction barge or two, towed in from Korea.

Which is just about the only smart thing to do. They do it fast and well.

The commercial viability standards? Exxon owns most of the gas cap, they will want huge tax breaks as well. Will they get them? Maybe, depends on how desperate Alaska is and where the terminus of the pipeline will be. Bet it isn’t Valdez.

[JohnBovenmyer]

Tap the North Slope natural gas and Alaska’s share of the proceeds I presume goes into the same fund now paying Alaskan’s sizable $ per capita every year for Nirth Slope oil. The oil and its resulting funds have been declining. This pushes them back up. Hope Trump @nd Sen. Sullivan point that out often!

[DUMBGRUNT]

All it needs is an 800-mile pipeline and lots of money from Korea, no right-of-way, no permits, no plans.
All for a pinky promise to lower tariffs on Korea.

US tariff policy has already changed over 50 times in the last year, and more changes are to come. The Koreans know this.
Tariffs are a tax on US consumers; most voters have figured this out. The Koreans also know this.

The proposed schedule is three years for the pipeline, five years for turnkey. It could easily take years of litigation if someone finds sardine bones at a campsite near a creek.

If Sullivan (the real one) and there are two imposters, is not elected, this project will not happen.

If South Korea waits two years, the tariffs will disappear.
Marry in haste, repent at leisure.
Americans have nice watches; the Koreans have the time.

[Sequoyah101]

Yup, “Tariffs are a tax on US consumers; most voters have figured this out.” There are still a lot of determined fans that would call those fighting words.

I said this last year in April and was thoroughly pilloried and called all sorts of nasty things. The truth is still a very stubborn thing isn’t it?

I already figure there will be all sorts with their hands out for something if this goes anywhere. The sardines are probably a good reason to follow TAPS and go to Valdez, I should have thought of that. Squeezing LNG trains in at Valdez will be premium though.

I worked with a guy once that was famous for selling grand things that were more goals than anything else, not likely. They sounded really great though and the few who knew better got shouted down usually for being negative or the like. Before the chumps figured that out he shifted the goal posts to another new and more glorious goal. Before the masses figured him out he moved on up the ladder.

Promises are still cheap.