South Korea remains cautious on Alaska LNG project despite Trump's push, citing high costs and commercial risks
South Korean President Lee Jae Myung stated that the country's participation in the $50 billion Alaska liquefied natural gas (LNG) project, which U.S. President Donald Trump has touted as part of Seoul's $200 billion investment package in the U.S., would depend on its financial viability and legal compliance. Analysts estimate the integrated project, with an annual capacity of 20 million metric tons of LNG, could cost between $44.5 billion and $54.5 billion. Concerns include the high cost of building an approximately 800-mile pipeline and potential cost overruns, making it potentially more expensive than alternative LNG supplies from Australia, the U.S. Gulf Coast, and Qatar. South Korea also faces uncertainty over long-term LNG demand and needs to balance strategic ties with commercial merits.
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