Washington, 03 October (H.S.): U.S. President Donald Trump has pressured South Korea to invest in the proposed Alaska LNG project, warning that the United States would “charge South Korea more money” if Seoul does not agree to the investment deal soon. Trump also said that the amount could be doubled if South Korea fails to sign the agreement promptly. However, he did not specify in what form the additional amount would be imposed.

According to South Korea’s state-run news agency Yonhap, Trump made the remarks while speaking to reporters at the White House. Two days earlier, he had announced plans involving the Alaska LNG project, a gas-fired power plant in Texas, and eight nuclear power plants as part of a broader U.S. investment package involving South Korea.

The South Korean government, however, has made clear that no final decision has yet been taken on investment in the Alaska LNG project. Seoul has said that it will proceed only after reviewing the project’s commercial viability and other relevant conditions.

U.S. Commerce Secretary Howard Lutnick had previously said that South Korea would invest more than $50 billion in the Alaska LNG project. However, documents released by the United States and South Korea link the project to commercial terms and the fulfilment of applicable legal requirements.

The Alaska LNG project envisages the construction of a pipeline stretching approximately 1,298 kilometres from Alaska’s North Slope to southern Alaska. The plan is to liquefy natural gas and ship it to Asian markets. The project’s estimated cost has been put at approximately $44.5 billion to $54.5 billion.

The latest developments have also highlighted differences between Washington and Seoul in their respective descriptions of the terms of the investment agreement. While the Trump administration has announced South Korean investment in the project, Seoul has maintained that the investment has not yet become a final commitment.

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Hindusthan Samachar / Jun Sarkar