Dunleavy is expected to visit South Korea between March 24 and 25 as part of efforts to attract investment in the Alaska LNG development project, which has gained prominence in U.S.-South Korea trade and energy discussions, industry sources said Tuesday.
Trump underscored the potential involvement of South Korean and Japanese firms in the project during a recent congressional address.
The multibillion-dollar Alaska LNG initiative includes the construction of a 1,300-kilometer gas pipeline to transport approximately 3.5 billion cubic feet of natural gas per day from the North Slope fields.
If realized, the project would boost U.S. energy exports and reduce the trade deficit while providing South Korea with a new energy source to enhance supply diversification and energy security.
South Korean steel, shipbuilding, and construction firms could benefit from contracts related to the project’s infrastructure.
“This project, highlighted as a key administration priority, could become an important negotiation card if it materializes,” a South Korean government official said.
However, the initiative presents significant financial and logistical challenges.
Investment costs could reach the equivalent of 10 percent of South Korea’s annual budget, and Alaska’s harsh climate is likely to drive expenses even higher. The project also requires specialized icebreakers for Arctic navigation, an area where South Korean shipbuilders have expertise but are constrained by packed production schedules.
The project’s long-term viability is also uncertain. Environmental concerns tied to Alaska’s sensitive ecosystem could pose regulatory hurdles in future administrations, while fluctuating global LNG demand and the shift toward renewable energy add further unpredictability.
South Korean officials have indicated they will carefully assess both opportunities and risks before making any commitments.
The LNG discussions come as the Trump administration prepares to implement reciprocal tariff measures next month, positioning the project as a potential bargaining chip in broader trade negotiations between Washington and Seoul.
Copyright ⓒ Aju Press All rights reserved.