WASHINGTON –
U.S. President Donald Trump’s energy security council is gearing up to host a summit in Alaska in early June, where it is anticipating Japan and South Korea to make commitments to the Alaska liquefied natural gas project. A reliable source familiar with the situation disclosed the information on Thursday. Trump has been actively promoting the $44 billion project, which aims to transport gas from the state’s North Slope fields using a 1,300-kilometer pipeline for domestic consumption and export to Asian customers as LNG, with the added benefit of bypassing the Panama Canal.
Even though discussions about the project have been ongoing for several years, the progress has been stunted due to the high costs involved and the extensive work required to bring it to fruition.
The proposed summit in Alaska is seen as a crucial moment for the project, as it presents an opportunity for Japan and South Korea, two key players in the energy sector, to formally commit to the venture. This would be a significant boost for the project’s viability and would help overcome some of the hurdles it has faced.
If Japan and South Korea do indeed pledge their support at the summit, it could pave the way for the Alaska liquefied natural gas project to move closer to becoming a reality. The project has the potential to strengthen energy security in the region and enhance trade relations between the U.S. and its Asian partners. With the backing of these important allies, the project could gain the momentum it needs to finally get off the ground.
Source
Photo credit www.japantimes.co.jp
