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Trump steps up pressure on Alaska LNG project

A new source of tension has emerged between the U.S. and South Korea over the Alaska LNG project. Donald Trump said Seoul could face higher costs — and that those costs could double — if it does not join the estimated $50 billion project soon.

According to the White House, Trump told reporters on Friday that South Korea had not announced its participation early enough. However, Trump did not specify what exactly would be doubled. South Korean media said the remark could refer to additional tariffs.

Seoul says the investment is still undecided

The South Korean side says the Alaska LNG project is still being reviewed. According to Seoul, any possible participation depends on the project being deemed commercially viable and on completion of domestic legal procedures.

The situation shows that Washington and Seoul are not aligned in their statements about U.S. energy and infrastructure investments. It appears that some items Trump has announced publicly are not yet regarded by South Korea as finalized agreements.

Additional $8.4 billion oil project also raised questions

On the same day, Trump announced on his Truth Social account an additional $8.4 billion advanced oil recovery project as part of a larger investment deal with South Korea. The method uses techniques such as carbon dioxide injection to extract more crude oil from oil fields.

However, according to reports in the South Korean media, the country's industry ministry said this project was also not among the agreements said to have been reached between Washington and Seoul. The ministry was reported to have contacted the U.S. side through trade channels to verify Trump's remarks.

Main risks markets will watch

  • The $50 billion Alaska LNG plan is significant for energy investment and long-term supply flows.
  • Rhetoric around tariff risk is creating fresh uncertainty over South Korea's trade costs with the U.S.
  • The lack of confirmation for the additional $8.4 billion project may prompt markets to take the reported investment figures more cautiously.
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