President Donald Trump announced Tuesday that Taiwan has committed to purchasing 30% of the natural gas produced by the proposed Alaska LNG pipeline project for the next 20 years. The agreement was disclosed during a campaign rally in Wasilla, Alaska, where Trump also highlighted U.S. and South Korean investments in the $50 billion project.
Taiwan’s state-owned energy company, CPC Corporation, previously reached an agreement with the Alaska Gasline Development Corporation (AGDC) to purchase liquefied natural gas (LNG) and invest in the pipeline, according to reports from 2023. The project, developed by Glenfarne, aims to deliver its first gas by 2029, per a U.S. government filing this month.
The announcement follows Trump’s repeated claims that South Korea had agreed to join the project, though Seoul has not confirmed final participation. Trump stated that the U.S. would invest $4.4 billion in the project, in addition to the $50 billion already committed by South Korea. However, the terms of the Taiwan deal cited by Trump were not immediately detailed in public statements.
Taiwan, which relies on imports for over 90% of its energy supply, faces rising demand due to growth in AI-related industries. The island’s economic affairs ministry projected an average electricity demand growth rate of 2.5% annually through 2035, second only to its highest forecast in history. The deal is expected to bolster energy security for the self-ruled island, which Beijing considers part of its territory.
The Alaska LNG pipeline project, a joint effort between U.S. and international partners, has been a focal point of Trump’s economic and foreign policy messaging ahead of the 2024 election. The president has previously pressured South Korea to finalize its participation, warning of potential tariff increases if delays persisted. The White House has not provided additional details on the enforcement mechanisms tied to these remarks.
The development comes as the project seeks to secure long-term buyers to ensure financial viability. Glenfarne’s timeline indicates first gas delivery by 2029, contingent on regulatory and investment milestones. The pipeline, once operational, would transport natural gas from Alaska’s North Slope to global markets, including Asia.