First Official Participation of Senior Korean Officials in U.S. Department of Energy Roundtable
Large-Scale Investment and Environmental Controversy Persist... Project Feasibility Review Expected to Continue
The government is set to begin a full-scale strategic exploration regarding the Alaska LNG project. It plans to directly assess the project's progress by attending the "4th Alaska Sustainable Energy Conference," which will be held from June 2.
According to the Ministry of Trade, Industry and Energy on May 29, Lee Ho-hyun, Director General for Energy Policy at the ministry, is scheduled to officially participate in a roundtable hosted by the U.S. Department of Energy at the conference. From the U.S. government, key figures from major energy and environmental agencies will attend, including Secretary of the Interior Doug Burgum, Secretary of Energy Chris Laite, and Environmental Protection Agency Administrator Lee Zeldin.
The dispatch of a high-level official to this conference is seen as a shift in the government's stance from mere observation to an exploratory phase regarding potential participation in the LNG project.
The Alaska LNG project is valued at approximately $44 billion. It involves liquefying natural gas from the Arctic region in northern Alaska, transporting it via a pipeline of about 1,300 kilometers to the southern port of Nikiski, and then exporting it to Asia. With the second Trump administration emphasizing the expansion of friendly energy suppliers, the project is reemerging as a core part of a strategy to increase exports centered on allied countries.
Within the government, there is a strong sense that "if Korea does not participate while other countries are already engaged in working-level discussions, it could lose its leverage in future negotiations." The ministry has already begun reviewing the project's feasibility through unofficial channels.
Taiwan's state-owned energy company CPC has been in discussions for several months with the Alaskan side regarding supply conditions. In Japan, multiple companies, including JERA, are reportedly considering initial investments in the project. Accordingly, the ministry is expected to use the upcoming conference to identify the U.S. side's practical requirements, investment structure, and supply pricing, after which it will formulate an official government position.
However, the Alaska LNG project has yet to secure commercial certainty. Due to the large construction costs and relatively high maritime logistics expenses associated with bypassing the U.S. West Coast, there have been ongoing concerns that the project lacks competitiveness amid a restructuring of the LNG market centered on Europe.
Since this conference is positioned as one focused on "sustainable energy," it is also possible that the U.S. side will present strategies related to carbon neutrality and renewable energy integration. In particular, as Alaska possesses a variety of resources such as wind, hydro, and solar power, a key topic of discussion is expected to be linking the LNG project with "transition energy" or "clean hydrogen production."
An official from the ministry stated, "For us, it is important to secure options for long-term supply diversification," adding, "This meeting will serve as an opportunity to assess supply stability, environmental performance, and profitability all together."
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