US to Host Alaska LNG Summit, Seeks Backing from Japan, South Korea

The Energy Security Council of U.S. President Donald Trump is all set to hold a summit in Alaska in early June, aiming for Japan and South Korea to make commitments to the Alaska LNG project, a source knowledgeable about the situation stated on Thursday. Trump has praised the $44 billion Alaska liquefied natural gas project, which aims to transport gas from the North Slope fields through an 800-mile (1,300 km) pipeline for domestic consumption and export it to Asian customers as LNG, avoiding the Panama Canal. Although the project has been discussed for years, advancement has been restricted by expenses and the extent of work required, per Reuters.

Trump, who has urged allies to purchase U.S. energy while also threatening trade tariffs, has requested Japanese Prime Minister Shigeru Ishiba to back the Alaskan initiative. The previous month, Taiwan's state energy firm CPC Corp entered into a non-binding accord with the state-operated Alaska Gasline Development Corp to purchase LNG and invest in the initiative, a step that President Lai Ching-te of Taiwan indicated would secure the island's energy safety. The conference, organised by Trump’s National Energy Dominance Council aiming to optimise oil and gas production, is set to occur around June 2. The New York Times was the first to report it. The Interior Department and the White House did not promptly reply to a request for feedback.

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Individually, representatives from Thailand, which may also purchase LNG from Alaska, and South Korea are anticipated to visit the state to discuss the project within the upcoming two weeks, according to the source, who requested to remain anonymous. This would mark the initial visit to Alaska by representatives from Thailand to discuss the initiative during Trump's second term. On Thursday in Washington, South Korea's Industry Minister Ahn Duk-geun stated that he was unaware of any plan to declare its commitment and noted that "there are still many tasks to be completed" through careful evaluation of the Alaska LNG project to "gain a clearer understanding of the local circumstances." Ahn mentioned that the nation is sending an inspection team, and the outcomes of the due diligence will need to be reviewed to determine the progression of discussions.