[INTERVIEW] Alaska governor urges Korea to buy LNG for 'mutual benefits'

Korea's gas imports deemed essential for favorable trade talks with US

By Park Jae-hyuk, The Korea Times - Alaska Gov. Mike Dunleavy emphasized that Korea's commitment to purchasing liquefied natural gas (LNG) from his state is essential for the fourth-largest economy in Asia to achieve favorable outcomes in its ongoing trade negotiations with the United States.

Promoting Alaska LNG imports as a way for Seoul to address Washington's request to rectify their trade imbalance, the Republican governor encouraged Korea to follow in the footsteps of Taiwan, the first stop on his tour of four Asian countries from March 19 to 30.

On March 20, Taiwan signed a letter of intent to purchase LNG from Alaska, citing the need to bolster its energy security. Taiwan's state-owned CPC Corp. also expressed interest in investing in the $44 billion project to construct a nearly 1,300-kilometer pipeline in Alaska.

"The goal is that Korea wants to buy our gas. That sets everything else into motion," Dunleavy said during a joint media interview hosted in Seoul by the American Chamber of Commerce in Korea (AMCHAM) on Wednesday.

"Why even discuss theoretical things if Korea doesn't even want to buy gas? We can discuss all that after Korea promises to offtake gas," he added.

In Korea, speculation has emerged that Washington might exempt tariffs on Korean products used in the Alaska LNG project, considering that U.S. President Donald Trump voiced his support for the project and specifically mentioned Korea as a possible "partner with investments" during a March 4 address to Congress.

Calling such expectations "putting the cart before the horse," Dunleavy stressed that everything begins with a gas offtake agreement.

However, the governor and the Alaskan delegation sought to ensure that their request was not perceived as "pressure" or "a bill." Instead, they highlighted the potential benefits for Korea and its companies from LNG purchases and participation in the project.

"There is no need to worry about shipping over contested waters. This is a great opportunity for Korea and Alaska," Dunleavy said. "Purchasing gas from Alaska also helps the conversation around trade balances. This is a win-win-win for Korea, Alaska and the U.S."

Alaska Gasline Development Corp. President Frank Richards and Glenfarne Group CEO Brendan Duval, who were part of the delegation as LNG project developers, pointed to Korea's steelmakers, construction equipment producers and shipbuilders as potential beneficiaries.

Citing the price competitiveness of LNG from the closest U.S. state to Korea, the delegation dismissed concerns over the profitability of gas imports and the feasibility of pipeline construction.

"There's a bit of a context of 20 years ago still coloring the perception of this project now," Dunleavy said. "But back then, we didn't have all the permits. We didn't have the urgent energy needs we have now. We didn't have global AI (artificial intelligence) demand."

The governor also sought to dispel concerns about the project's scale and cost, explaining that circumstances and demand have shifted significantly.

"In Korea, every official has been very polite and trying to understand the project," he said, referring to his meetings on Tuesday with acting President and Prime Minister Han Duck-soo and Industry Minister Ahn Duk-geun.

However, the Korean government has reportedly remained undecided toward Alaska's request due largely to a leadership vacuum following President Yoon Suk Yeol's suspension from duty after his Dec. 3 martial law declaration.

It is also unclear whether the Alaskan delegation had meaningful discussions with major Korean companies, including SK, POSCO, Hanwha and SeAH.

Addressing the skepticism, Dunleavy asserted that Korea's gas needs remain a pressing issue despite the country's political uncertainties.

AMCHAM Chairman James Kim also emphasized the chamber's approach of "decoupling" business from politics.

"We want U.S. companies here and Korean companies to procure as many U.S. products as possible, which reduces the trade deficit. LNG is the biggest portion of that," Kim said.

Source: https://www.koreatimes.co.kr/www/tech/2025/03/419_395046.html?na