South Korea Eyes Investment in $44 Billion Alaska LNG Project

South Korea is taking significant steps toward exploring investment avenues in the energy sector with its Deputy Minister for Energy Policy attending the upcoming Alaska Sustainable Energy Conference in early June.

This move comes amid U.S. President Donald Trump's encouragement for Asian nations to consider supporting the $44 billion liquefied natural gas (LNG) project. The project seeks to transport gas from Alaska's North Slope fields through a 1,300-kilometer (800-mile) pipeline to domestic and Asian markets.

The initiative promises to bypass the Panama Canal, enhancing logistical efficiency for Asian importers while potentially providing economies relief from U.S. tariffs. South Korea is keen on using the conference to gauge the project's progress.

(With inputs from agencies.)