South Korea to invest up to $200B in Alaska LNG pipeline, US power plants, Trump announces

South Korea’s government will invest up to $200 billion in U.S. energy infrastructure, including a natural gas pipeline in Alaska, President Trump announced Wednesday.

The investment also includes a natural gas plant in Texas and eight new nuclear power plants across the country, Trump said during remarks in the Oval Office.

Trump said the deal came as part of a trade agreement between South Korea and the U.S. in which the U.S. would lower the Asian country’s tariff rate to 15 percent in exchange for hundreds of billions of dollars in investment.

Trump particularly touted the Alaska pipeline investment, known as Alaska LNG because it would transport liquefied natural gas, as allowing the U.S. to export more gas.

“The United States is already the largest natural gas producer and exporter in the world, and this pipeline will help us expand those exports even further,” he said.

Alaska LNG, an 807-mile vessel, is expected to receive a $54 billion investment from Korea. In the Oval Office, Trump touted the involvement of Alaska Sen. Dan Sullivan (R), who is running to retain his seat against several candidates, including former Rep. Mary Peltola (D).

The White House described the Alaska LNG project as the largest proposed energy infrastructure project in U.S. history.