President Donald J. Trump announced a $50 billion-plus investment from South Korea to support the Alaska LNG pipeline and export facility, advancing the project toward construction.
Key points
•$50 billion South Korean investment
•Advances project toward final investment decision
•Aims to create jobs and economic value
The announcement marks a significant milestone in the development of Alaska LNG, with Glenfarne Group, LLC, the lead developer and majority owner, expressing readiness to move forward. The company's CEO, Brendan Duval, stated that every decision is made with the goal of delivering affordable gas and economic benefits for Alaskans.
Since becoming the lead developer in March 2025, Glenfarne has secured numerous agreements totaling 13 million tonnes per annum towards final investment decision. Adam Prestidge, President of Glenfarne Alaska LNG, emphasized that this investment will enable the project to create jobs and long-term economic value for Alaska.
Alaska LNG involves an 807-mile pipeline from the North Slope, a gas treatment plant, and a 20 MTPA terminal in Nikiski. Glenfarne owns 75% of the project, with the State of Alaska holding 25%. The company aims to develop its North American LNG portfolio to 34 MTPA capacity.
The investment will help finalize the project's structure and move it closer to a final investment decision (FID) and construction. Duval stated that Glenfarne is committed to delivering on the opportunities presented by Alaska LNG for both Alaska and the United States.
