President Donald Trump stood at the White House on Wednesday to announce a massive new energy project. He said a decades-long promise to Alaska is finally being kept. The deal brings $54 billion in South Korean money to build a natural gas pipeline.
The plan was not just a small step. It is part of a larger $200 billion investment from South Korea into American energy. The Daily Wire reports that this cash represents the initial major disbursement from a pledge established last year. Trump called it a transformative moment for the nation. He noted that politicians have talked about this pipeline for five decades. "For five decades, politicians have talked about the Alaska pipeline," he said. "I've been hearing about it from the time I'm a little boy."
Commerce Secretary Howard Lutnick joined the president for the announcement. Per RedState, the group gathered to sign the deal in the Oval Office. The project involves an 807-mile line from the North Slope to the southern coast. In that location, the gas undergoes chilling to become liquid before being transported to Asian purchasers. White House officials state the pipeline has the capacity to transport 20 million metric tons of LNG annually. As Breitbart notes, the project will supply approximately 4 billion cubic feet of gas daily. Trump stated that this level is "not comparable with anyone else."
.@POTUS: “We’re thrilled to announce one of the largest energy infrastructure investments in American history.”
— A $22.3 billion, 6.5 GW natural-gas power facility in Encinal, Texas.
— Eight large nuclear reactors
— Alaska LNG project pic.twitter.com/oYBDJD3WCc
— Rapid Response 47 (@RapidResponse47) September 30, 2026
The funding comes from a specific agreement with the Republic of Korea. Breitbart indicates this marks the newest investment within a $200 billion strategy for the American energy industry. The Korean government will also fund eight nuclear power plants. They are building a massive power station in Encinal, Texas. Such a facility is designed to supply chip factories and data centers. RedState reported that the Texas project alone involves a six gigawatt power generation facility. Trump called that plant "a major plant" and "about as big as you'll see."
Developer Glenfarne owns 75% of the Alaska project alongside the state. According to the Daily Wire, the company plans to build the pipeline in two stages. The first stage is a 739-mile line to supply Alaskans. The export terminal will follow. Glenfarne is targeting the first flow of gas in 2029. This timeline moves the project from the drawing board to reality.
.@RepNickBegich: “This is a transformative opportunity for the state, for the nation.” https://t.co/YbpLPOvJzw pic.twitter.com/hiK4631eFy
— Rapid Response 47 (@RapidResponse47) September 30, 2026
The announcement arrives during a tight election race in Alaska. Per the Washington Examiner, Republicans face a narrow race for the state's Senate seat. Incumbent Sen. Dan Sullivan is running against former Democratic Rep. Mary Peltola. The deal was made with Governor Dunleavy and Representative Nick Begich III present. RedState noted that the Alaska legislature recently battled over tax arrangements for the pipeline. Now, the federal government has stepped in to secure the investment.
Trump described the scope of the deal clearly. "We're thrilled to announce one of the largest energy infrastructure investments in American history," he said. Currently, the United States stands as the global leader in natural gas production. The Daily Wire reported that this pipeline will help expand those exports even further. The money is real, the plans are set, and the construction is set to begin.
After fifty years of waiting, the gas is finally moving.