The Gulf area conflict is rewiring global energy supply chains, with Taiwan turning to Alaska for long-term, conflict-free liquefied natural gas supplies.
President Trump touted the latest development on Truth Social, saying Taiwan had agreed to purchase 30% of a planned Alaska LNG project's output for two decades and invest an additional $4.4 billion. Taipei, however, said binding terms remain under negotiation.
"I was just in Alaska launching the largest Energy Infrastructure Project in Alaska History: The Alaska LNG Project. This 50 Billion Dollar Infrastructure Investment from The Republic of Korea is part of their Trade and Investment Deal with me," Trump wrote on Truth Social around lunchtime in New York.
The president continued, "I am also announcing today that my Commerce Secretary, Howard Lutnick, has secured an Offtake Commitment from Taiwan of between 70 to 80 Billion Dollars for Alaska LNG. That is 30% of the Pipeline for the next 20 years."
"On top of that, Taiwan has also agreed to invest 4.4 Billion Dollars in Equity into the Project, because this is now a U.S. Federal Government Project, with all necessary permits secured, and all necessary authorizations delivered, and ready to go," he added.
Bloomberg reported that Taiwan's Ministry of Economic Affairs plans to buy 6 million tons of LNG annually and participate in the Alaska LNG project.
State-owned CPC Corp. previously signed a nonbinding letter of intent to consider investing. Deliveries could begin as early as 2032 if development proceeds on schedule, the ministry said.
Earlier this month, Trump announced a $54 billion South Korean investment in the project, but Seoul subsequently said participation would depend on commercial viability.
Alaska LNG is a proposed development that would transport natural gas from Alaska's North Slope to the state's southern coast, supplying Alaskan customers and exporting LNG to Asia.
For both countries, LNG shipped from Alaska would cross the Pacific without passing through the disrupted Strait of Hormuz, helping them diversify supplies away from that maritime chokepoint.