Trump touts $54 billion South Korea investment in Alaska gas pipeline

WASHINGTON (Gray DC) - President Donald Trump announced plans Wednesday for South Korea to invest $54 billion in a liquefied natural gas project in Alaska.

The project is expected to be completed in three years and would construct an 800-mile pipeline carrying natural gas from Alaska’s North Slope to the southern part of the state for export to Asian markets.

White House Correspondent Jon Decker asked Trump whether there was consideration of constructing another oil refinery in Alaska to lower gasoline prices, noting that energy costs in the state are high.

“I was in Alaska just a few weeks ago. Energy costs are exceedingly high. Is there any consideration of constructing another oil refinery - for gasoline to bring these prices down,” Decker asked.

“Gasoline prices in Alaska are going to tumble well as soon as the war ends which is going to be soon. Prices are going to come way down regardless. But gasoline prices, because of this project and a couple of others in Alaska are going to tumble,” Trump said.

Trump also commented on the Senate race between Sen. Dan Sullivan (R-Alaska) and former Alaska Rep. Mary Peltola (D). Peltola lost her bid for reelection to the House in 2024.

Decker asked Trump why he thought the race was as close as polls indicate.

“If the people of Alaska knew what I know, and I know the real facts, there wouldn’t even be a race,” Trump said.

Trump said he plans to travel to Alaska in the weeks before the midterms to energize Republicans and help Sullivan win a third term in the U.S. Senate.