Washington:US Vice President JD Vance announced that the United States and South Korea still need to address specific details of a proposed liquefied natural gas (LNG) project in Alaska. He expressed optimism that the project would proceed due to strong demand for American gas in Asia.
According to Yonhap News Agency, Vance emphasized the interest of not just South Korea but also Japan in seeing the pipeline materialize. He noted the significant demand for American natural gas in East Asian countries, which have been facing high natural gas prices.
The proposed LNG project is part of a series of South Korean investment initiatives in the US, announced by President Donald Trump last week. These include the construction of a gas-fired power plant in Texas and eight large-scale nuclear power plants. However, South Korea's industry ministry indicated that the Alaska LNG project has not been finalized and requires further review of its commercial viability and other factors before proceeding with any investment decisions.