SEOUL, March 04 (AJP) - South Korea has expressed interest in joining Alaska’s natural gas development project, seeking a trilateral partnership with the United States and Japan, according to government sources familiar with the discussions, Tuesday.
Industry Minister Ahn Duk-geun conveyed South Korea’s interest during meetings with U.S. Commerce Secretary Howard Lutnick and Doug Burgum, chairman of the White House National Energy Council, in Washington, D.C., from Jan. 26 to 28, officials said.
The Alaska LNG project aims to transport natural gas from the Prudhoe Bay gas field on Alaska’s North Slope to Nikiski, near Anchorage, via a 1,300-kilometer pipeline, where the gas would be liquefied for export. The initiative carries an estimated price tag of at least $45 billion.
U.S. President Donald Trump has made the development of Alaska’s natural gas resources a priority in his second term, signing an executive order to lift restrictions on energy development in the state. The move is part of a broader effort to bolster U.S. energy production.
Japan has already signaled strong interest in the project. During a visit to Washington last month, Japan's Prime Minister Shigeru Ishiba discussed the initiative with Trump, who later highlighted it in a joint press conference.
“The United States needs Korea’s participation because Japan alone cannot provide sufficient demand,” a senior South Korean government official said. “Korea has key technological advantages, from ice-breaking vessel construction capabilities to steel production, which are crucial for pipeline construction."
South Korea and Japan rank as the world’s second- and third-largest importers of liquefied natural gas, following China. The U.S. share of South Korea’s LNG imports rose from 0.1 percent in 2016 to 18.5 percent in 2021, though it declined to 12.2 percent last year.
The South Korean government is expected to assess the project’s viability carefully, weighing potential risks against opportunities for the country’s steel, shipbuilding, and construction industries.
“The Alaska gas project is a key initiative for the U.S. government, as evidenced by the executive order,” the South Korean official said. “If we move forward in partnership with Japan, the project could become more viable. We plan to establish a working-level consultation channel with the United States to explore this further.”
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