Kathmandu. US President Donald Trump is expected to announce a major investment in South Korea’s energy sector.

The long-discussed liquefied natural gas (LNG) project in Alaska includes a budget of $54 billion.

The White House press officer posted a Bloomberg news release about the project. The announcement coincides with the timing of Alaska’s Republican Senator Dan Sullivan’s re-election prospects.

The project, spearheaded by the Glenfarn Group, an industrial project developer based in New York and Houston, plans to build an 800-mile-long pipeline to transport natural gas from the Alaska North Slope. The gas will then be produced at a liquefaction facility near Anchorage and exported to Asia, according to the plan.

Alaska officials had previously floated ideas about such a project, but had been unable to move forward because of questions about the cost of the project and consumer demand for LNG.

Although Alaska has been a producer of petroleum for decades, environmental concerns have a history of limiting some developments.

Trump administration officials, such as Energy Secretary Chris Wright and Homeland Security Secretary Doug Burgum, attended the American Energy Dominance conference in Anchorage in June. They have largely ignored environmental concerns.

The state of Alaska holds a 25 percent stake in the LNG project, while the rest is owned by Glenfarne. Even in the best-case scenario, the LNG project won’t hit the market until 2030.

“South Korea is expected to announce a total of $200 billion in U.S. investments at a White House event on Wednesday,” Bloomberg reported, citing people familiar with the matter.

The projects are part of South Korea’s commitment to invest $350 billion in the U.S. and increase U.S. energy purchases. It’s part of the July 2025 trade deal with Trump, which imposed a 15 percent tariff on South Korean goods in the U.S.

South Korea is also expected to invest in eight U.S. nuclear power plants, the Wall Street Journal reported earlier this month.