South Korea will commit $54 billion to the Alaska LNG pipeline, a White House official says, and President Trump is expected to announce it Wednesday.
The money is part of a broader $200 billion South Korean investment in U.S. energy projects. Trump is due to make the announcement in remarks alongside Commerce Secretary Howard Lutnick, per The Hill.
The Alaska LNG project is an 807-mile pipeline that would carry natural gas from Alaska's North Slope to the southern part of the state for export to Asian markets.
The project has faced years of questions over its cost and commercial viability.
That is the part the victory lap tends to skip. The pitch is big. The track record is a long list of questions.
The package also includes eight large-scale nuclear power plants and a 6-gigawatt power generation facility in Texas. The White House official ties it to a broader commitment Seoul made during trade negotiations last year.
Interior Secretary Doug Burgum, Energy Secretary Chris Wright and Lutnick are expected to join Trump. So are Alaska Gov. Mike Dunleavy (R), Sen. Dan Sullivan (R-Alaska) and Rep. Nick Begich (R-Alaska).
The source does not say how the money would be disbursed or on what timeline. Wednesday's remarks are the next test of how much of the $54 billion comes with specifics.