Key facts
- Taiwan will invest up to $4.4 billion in the Alaska LNG project.
- Taiwan will purchase 30% of the project's output over 20 years.
- CPC Corp. will buy 6 million tons of LNG annually from the facility starting in 2032.
- The Alaska LNG project aims to export 20 million metric tons of gas annually.
- US President Donald Trump announced Taiwan's agreement to buy Alaska LNG at a rally.
US President Donald Trump announced that Taiwan has agreed to invest up to $4.4 billion in the Alaska LNG project and commit to purchasing 30% of its output over 20 years. The announcement was made during a campaign rally in Alaska.
Taiwan's economy ministry confirmed its intention to spend over $4 billion on the project and buy liquefied gas from the facility, which is yet to be built. The country's state energy company, CPC Corp., will purchase 6 million tons of liquefied gas annually from the Alaska facility, starting in 2032. This aligns with earlier plans to boost U.S. liquefied gas imports to one-third of Taiwan's total.
The $44-billion Alaska LNG project, promoted by the Trump administration, aims to deliver North Slope natural gas to Alaskans and export LNG to U.S. allies across the Pacific. An 800-mile pipeline is planned to transport the gas from the North Slope to a south-central Alaska export terminal. The project operator, Glenfarne, claims that shipping costs will make the Alaskan LNG competitive with Gulf Coast projects.
The deal comes as buyers seek greater diversification of energy sources, particularly in light of disruptions in the Middle East. The project has reportedly gained popularity among Asian LNG buyers who previously relied on Qatari gas.