Trump Unveils $200 Billion South Korean Energy Investment, Including Alaska LNG

US President Donald Trump announced Wednesday that South Korea would invest $200 billion in US energy projects, including $54 billion for the long-discussed Alaska LNG project, although Seoul said a final decision on the investment had not yet been made.

South Korea had previously agreed to invest $350 billion in the United States and increase its purchases of US energy under a trade agreement reached with Trump in July 2025. The deal set a 15 percent tariff on imports from the East Asian country.

Alongside the Alaska LNG project and its associated pipeline, the Trump administration also announced a $22.3 billion natural gas-fired power project in Texas that would receive backing from South Korea.

“The United States and Korea have agreed to commence working together on the 50 Billion Dollar ALASKA LNG PROJECT,” Trump wrote on his Truth Social account Thursday, Seoul time.

He also announced a “huge 22 Billion Dollar, 6.4-gigawatt Natural Gas Fired Power Project in Encinal, Texas,” saying it would add significant new and reliable power capacity to the state.

According to a statement from the US Commerce Department, the Texas facility will provide 6,472 megawatts of electricity to data centers located in Encinal. The project is expected to become fully operational by 2032.

South Korea confirmed Thursday that the two countries intend to “proceed with a $22.3 billion natural gas power facility” in Texas, which will be dedicated to supplying electricity to data centers located alongside the plant.

However, Seoul clarified that the Alaska LNG project would only be considered if it proves commercially viable and meets relevant domestic legal requirements.

“No decision has been made regarding whether to invest in the project or the scale of any potential investment,” South Korea’s trade ministry said in a statement.

South Korean President Lee Jae Myung said Thursday that Seoul would begin work on the Alaska project on the condition that its commercial viability is confirmed and that it complies with South Korean legal procedures.

Lee said last month that negotiations over the projects had been “very complex and difficult,” noting that some of the proposed terms were difficult for Seoul to accept, without providing further details.

Beyond the Alaska LNG and Texas power projects, Trump said the two countries were also “moving forward” with a $120 billion nuclear power programme aimed at building eight large-scale reactors in the United States.

The proposed nuclear programme includes $100 billion in construction costs and $20 billion in contingency reserves, according to the US Commerce Department.

Lee said Thursday that the nuclear programme would also depend on the commercial viability of each individual reactor.

South Korea’s trade ministry said the projects in the United States would be pursued in a manner that serves the country’s national interest.

The Alaska LNG project, led by the New York- and Houston-based Glenfarne Group, envisions an 800-mile (1,300-kilometer) pipeline transporting natural gas from Alaska’s North Slope to a liquefaction facility near Anchorage. The LNG would then be exported to Asian markets.

Alaska has a long history as a major petroleum-producing region, although environmental concerns have historically limited some energy developments.

The Trump administration has largely prioritized expanding energy production while rolling back several environmental regulations aimed at reducing emissions linked to global warming.

The large-scale expansion of US energy infrastructure could also face challenges from a shortage of skilled workers, experts have warned.

The United States is expected to need approximately 1.7 million additional skilled-trade workers through 2035, according to a report released Wednesday by the Alliance for America’s Skilled Trades, an organization backed by companies including Ford, Blackstone and Nvidia.

The report found that existing training programmes currently produce only about 55 workers for every 100 skilled workers the country is expected to require, highlighting a potential labor gap as the United States accelerates investment in energy and industrial infrastructure.