President Trump is scheduled to announce plans for South Korea to invest over $50 billion in a new liquefied natural gas pipeline in Alaska this afternoon.
The announcement in the Oval Office with Commerce Secretary Howard Lutnick will futher Trump’s American energy agenda and “accelerate America’s nuclear energy renaissance,” according to White House spokesperson Taylor Rogers.
Per NBC:
Trump is expected to announce a plan this afternoon for South Korea to invest $54 billion to build a natural gas pipeline in Alaska, a White House official said.
It is part of a broader South Korean investment of $200 billion as part of the U.S.-Korea trade and investment agreement announced last year. The money will also go toward eight large-scale nuclear plants and a power facility in Texas, the official said. South Korea pledged a total of $350 billion in the trade and investment deal.
The Alaska gas pipeline would stretch more than 800 miles, connecting Alaska’s North Slope to natural gas export terminal in southern Alaska, the official said, adding that it would lower energy prices for Alaskans by providing a reliable supply of natural gas.
In a statement, White House spokesperson Taylor Rogers said the energy infrastructure investments “deliver on [Trump’s] day one promises to unleash American energy, unlock Alaska’s extraordinary resource potential, and accelerate America’s nuclear energy renaissance.”
This comes after Trump announced on Monday additional plans for Minnesota-based Mesabi Metallics to build a $15 billion steel plant, the largest in US history, in Iowa.
WATCH LIVE: President Trump Makes an Announcement on Plans to Build Largest Steel Plant in US History – 2 PM ET
The event is scheduled to begin at 3:30 PM Eastern time.
Watch live below:
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