Seoul [South Korea], September 12 (ANI): South Korea’s POSCO International has begun reviewing participation within the U.S.-led Alaska liquefied pure fuel (LNG) mission, changing into the primary Korean firm to formally study involvement within the huge power growth. The transfer comes as U.S. President Donald Trump exhibits a powerful curiosity within the mission, as per a report by Pulse, the English service of Maeil Business Newspaper Korea.
Citing international media experiences on Friday, Pulse reported that POSCO International signed a preliminary settlement on Wednesday on the Gastech exhibition in Milan with Glenfarne, the mission’s developer, for the annual provide of 1 million tons of LNG over 20 years. The contract additionally features a provision for supplying POSCO metal merchandise for a 1,300-kilometre pipeline required for the mission.
The firm acknowledged that the settlement is a non-binding letter of intent, and it’ll make a ultimate choice on participation after acquiring board approval and conducting inside evaluations of enterprise feasibility and profitability. ‘POSCO International is reportedly contemplating an off-take association by which the customer commits to LNG purchases earlier than manufacturing begins, whereas additionally analyzing profitability of supplying metal for the 1,300 km pipeline,’ the report mentioned.
The Alaska LNG mission entails transporting pure fuel extracted from Alaska’s North Slope by a newly constructed 1,300 km pipeline to a liquefaction plant in Nikiski, close to Anchorage, for export. Initially proposed over a decade in the past, the mission stalled after ExxonMobil and different U.S. power corporations withdrew over excessive funding prices and dangers. It regained momentum in 2025 after Trump signed an government order supporting the plan shortly after taking workplace.
As per the report, Trump mentioned within the U.S.-Korea summit that happened in August that ‘Korea, together with Japan, plans to put money into the Alaska LNG growth mission.’ Glenfarne additionally signed a letter of intent with Japanese utility JERA on September tenth, 2025, to produce 1 million tons of LNG yearly for 20 years. The developer goals to safe a ultimate funding choice by the tip of the yr.
The United States has been urgent Korea and Japan to affix the Alaska LNG mission by way of a number of channels, together with bilateral commerce negotiations. During tariff talks, Korea and Japan pledged $350 billion and $550 billion in U.S. investments, respectively.
According to the report, U.S. Commerce Secretary Howard Lutnick cited the Alaska LNG mission for instance of Japan’s funding dedication in a broadcast interview on Thursday, saying that, ‘Once authorised by the president, building staff might be employed and Japan will present the capital. They ship cash, we construct the pipeline, and when money move begins, the United States and Japanese governments cut up the earnings 50-50 till Japan recoups its funding. After that, the United States retains 90 per cent of the earnings.’
Glenfarne CEO Brendan Duval mentioned in a press launch that POSCO International’s participation would speed up the mission’s growth. POSCO International added that additional particulars stay confidential beneath a nondisclosure settlement. (ANI)