Trump to Announce $54 Billion Alaska LNG Plant as Part of South Korea Trade Deal
The announcement comes as the White House unveils a series of manufacturing and jobs plans ahead of the midterm elections.
President Trump is set to announce a $54 billion investment in an Alaskan liquefied natural gas (LNG) facility on Wednesday, a significant overseas investment that is part of a larger trade agreement with South Korea. This announcement is among a series of manufacturing and jobs initiatives the White House is rolling out in the lead-up to the November 3 midterm elections.
The funding from South Korea will support the construction of the LNG plant and is part of a $350 billion commitment pledged by Seoul as part of a trade deal finalized in July 2025. The project is intended to anchor an 807-mile pipeline connecting to the resource-rich North Slope of Alaska, marking it as the largest proposed energy infrastructure project in U.S. history.
Senator Dan Sullivan (R-Alaska), who is facing a challenging re-election campaign, is expected to join Trump and Commerce Secretary Howard Lutnick for the announcement in the Oval Office. White House spokesman Taylor Rogers stated that the investment will "deliver on his day one promises to unleash American energy, unlock Alaska’s extraordinary resource potential, and accelerate America’s nuclear energy renaissance." He added that the initiative "continues to cement the United States as the energy capital of the world," contrasting it with what he termed "the Democrats’ energy subtraction policies."
Other administration officials expected to attend include Interior Secretary Doug Burgum and Jarrod Agen, executive director of Trump’s National Energy Dominance Council, along with GOP Representative Nick Begich and Governor Mike Dunleavy.
This development follows closely on the heels of another major project announcement. On Tuesday, the president confirmed plans for Mesabi Metallics, a Minnesota-based company, to construct what is described as the largest steel plant in American history, to be located in eastern Iowa. Trump is also scheduled to visit a Peterbilt Motors factory in Denton, Texas, on Thursday to highlight his administration's job creation record.
Adding to these economic announcements, Trump indicated on Tuesday his intention to embark on a 32-day campaign tour to support Republican candidates as the party seeks to maintain control of Congress. A potential visit to Alaska is being considered as part of this tour.
Trump has consistently advocated for American "energy dominance" and has prioritized the development of oil, natural gas, and coal resources by opening federal lands and offshore waters.