According to Yonhap News,

South Korean Industry Minister Ahn Duk-geun discussed the U.S. administration's gas pipeline development project with the visiting governor of Alaska on Tuesday, as well as measures to bolster bilateral cooperation between Seoul and Washington in various areas, the industry ministry said.

Ahn met with Alaska Gov. Mike Dunleavy to discuss Alaska's liquefied natural gas (LNG) project, a key agenda of the Donald Trump administration, and other areas of cooperation, according to the Ministry of Trade, Industry and Energy. Dunleavy arrived here earlier in the day on a two-day visit and was scheduled to meet with senior Seoul government officials, including acting President Han Duck-soo, and major business leaders.

The Alaska LNG project has emerged as a hot issue in South Korea with expectations that Seoul's participation in the project will help the country in its tariff negotiations with the U.S. amid Trump's push to boost oil and gas production.

The project, estimated at US$44 billion, aims to build a 1,287-kilometer pipeline from the North Slope, a proven massive reserve of natural gas, to southern Alaska to transport natural gas that will be cooled to liquid for shipments to Asia.

In the meeting, Ahn told Dunleavy that South Korea is the biggest exporter to Alaska, exporting $1.17 billion to the state last year, and will work to facilitate further cooperation with Alaska in energy and various other industries.

Seoul imported $630 million worth of goods from Alaska in 2024, according to the ministry.

It said the two sides highly assessed the continued expansion of the two countries' cooperation in energy and advanced industries, and called for the further enhancement of bilateral ties.

Ahn also stressed the need for "consistency" in U.S. policies to create an environment for continued investment by South Korean firms in the country, according to the ministry.



nyway@yna.co.kr

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Source: Yonhap News (March 25, 2024)