Japan, South Korea, and Taiwan are considering a joint feasibility study for the $44 billion liquefied natural gas (LNG) project in Alaska, sources familiar with the matter have revealed.
While U.S. President Donald Trump has expressed hope for investments from the three countries, they view their potential participation in the project as a potential leverage point in ongoing U.S. tariff negotiations.
The LNG project, which involves building a 1,300-kilometer pipeline to transport natural gas from the Arctic Circle to a liquefaction facility, remains a significant concern due to its high cost.
However, natural gas from Alaska offers the potential for stable supplies, with relatively low geopolitical risks, and deliveries can be made in about a week.
During U.S. trade talks on Thursday, South Korea confirmed its interest in the project and suggested collaboration with Japan, Taiwan, Vietnam, and other nations. Japanese diplomatic sources reported the development.
In a March speech, Trump highlighted his expectations for Japan and South Korea to participate in the project. Treasury Secretary Scott Bessent noted that investments from these countries could result in potential tariff reductions.
A source from Japan’s Agency for Natural Resources and Energy stressed that investment in the project will depend on its economic viability.
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