Trump continues to lie that Alaska LNG financing has been approved
Trying to salvage Sen. Dan Sullivan’s campaign, President Trump continues to spread propaganda that Taiwan and Korea have both signed amazing deals to build the Alaska LNG project.
It is no surprise that Trump continues to lie. There is no agreement with Korea to pay $50 billion. There is also no binding agreement with Taiwan to pay $4.4 billion and buy “$70 billion to $80 billion” of gas for 20 years.
“I was just in Alaska launching the largest energy infrastructure projects in Alaska History,” Trump claimed Wednesday. “This 50 Billion Dollars Infrastructure Investment from the Republic of Korea is part of their Trade and Investment Deal with me.”
“This is the GREATEST Project in Alaska History and this only happens with me in the White House.”
Taiwan is in a delicate position because Trump has delayed a $14 billion arms sales package to Taiwan to appease China. That deal has become a bargaining chip and Taiwan will do what it can to appease Trump.
Here is the statement from Taiwan, couched in diplomatic language that only says “significant progress” has been made in reaching a deal. The Associated Press and other news organizations have misinterpreted this text to claim it is a final agreement.
In response to the U.S. proposal for Taiwan's participation in the Alaska LNG (Alaska LNG) project, the Ministry of Economic Affairs said today (14) that in order to ensure the stable supply of domestic natural gas and adhere to the diversified procurement strategy of gas sources, after Taiwan PetroChina signed the "Alaska LNG (Alaska LNG) Trading and Investment Letter of Intent (LOI) in Taipei in March 2025, after nearly a year and a half of intensive consultation and careful evaluation, the company has made significant progress with US developers.
According to the Ministry of Economic Affairs, according to the current plan, the direction of cooperation includes the purchase of 6 million tons of Alaskan liquefied natural gas per year after mining, and participate in project development, with an estimated investment of up to $4.4 billion. Through long-term energy procurement and project investment, it will help promote the diversification of natural gas supply, enhance the flexibility of supply scheduling, further strengthen China's energy resilience, and deepen Taiwan-US cooperation.
The Ministry of Economic Affairs pointed out that the Alaska LNG program has a geographical advantage, which can reach Taiwan directly through the Pacific route, which can help disperse natural gas transportation routes and geo-supply risks. If the plan is to advance smoothly according to the planning period, it is expected that the domestic natural gas supply can be further injected as soon as 2032, as an important layout for Taiwan to continue to promote the diversification of gas sources.
The Ministry of Economic Affairs stressed that the relevant cooperation will uphold the principle of mutual benefit and common prosperity and professionalism, and CNPC will continue to coordinate with relevant US units on procurement, investment and related cooperation matters, and conduct project research and budget reporting operations in accordance with the company's procedures. Specific investment arrangements, shareholding ratio and related conditions will be handled in accordance with the follow-up consultation between the two parties and the relevant procedures of the business contract to expand the company's operation and respond to domestic energy supply demand.
The Ministry of Economic Affairs said that national energy security is the cornerstone of social stability and development. In the future, we will continue to pay attention to the promotion of the global natural gas market and various development plans, and make every effort to ensure stable domestic energy supply through diversified procurement strategies and rolling review of domestic gas planning.
Lutnick claimed on October 29, 2025 that Trump would direct $200 billion from Korea into many projects in the U.S., including the Alaska LNG pipeline.
“The investments will be directed and approved by the president,” Lutnick claimed a year ago.
Lutnick invented a different story Tuesday for the crowd in Wasilla while repeating the lie that South Korea has committed to pay for the pipeline.
“So two months ago, I'm spending time with President Trump, and he says, we've got to build the greatest pipeline in the United States of America, in Alaska. So he says, Howard, go get it done. And what happened is the president has created the greatest trade deals in the history of economies, the history of the United States of America,” said Lutnick, a former visitor to Epstein’s island.
“And so the Koreans, because the president has federalized this project, the Koreans, the Republic of Korea has committed $50.1 billion to build the line in Alaska,” said Lutnick.
At this Trump, Lutnick and others applauded and joined in a “Build the Line!” chant. People in the crowd waved the “Build the Line!” signs, among the only ones allowed in the campaign event.
It’s not clear what Lutnick means by “federalized.” Perhaps it means nothing. Perhaps it means that Trump wants the U.S. government to turn the pipeline into a federal public works project claiming it is a matter of national security.
Lutnick continued with his new version of events:
“So with Dan Sullivan, a couple of weeks ago, we announced that project in the Oval Office, which is, every time you go in the Oval Office with the President Trump, it is so cool. And he says to me, the president says to me, Howard, you got to make it better. So all week we were working with the Taiwanese government, and they agreed to buy 30 percent of everything produced on that line, and they will invest $4.4 billion on top of the Koreans to make sure this line gets built.”
“So thank you, Mr. President, for the greatest deal in the history of Alaska,” said Lutnick.
This was all a phony staged show to promote Sullivan who trails Mary Peltola in the polls.
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