Alaska
Trump tariffs push Asian trade partners to weigh investing in massive Alaska energy project
Japan, South Korea and Taiwan are considering investing in a massive natural gas project in Alaska in an attempt to reach trade deals that would both satisfy demands from President Donald Trump and avoid high U.S. tariffs on their exports.
Alaska has long sought to build an 800-mile pipeline crossing the state from the North Slope in the Arctic Circle to the Cook Inlet in the south, where gas would be cooled into liquid for export to Asia. The project, with a staggering price tag topping $40 billion, has been stuck on the drawing board for years.
Alaska LNG, as the project is known, is showing new signs of life — with Trump touting the project as a national priority. Treasury Secretary Scott Bessent said earlier this month that the liquified natural gas (LNG) project could play an important role in trade negotiations with South Korea, Japan and Taiwan.
“We are thinking about a big LNG project in Alaska that South Korea, Japan [and] Taiwan are interested in financing and taking a substantial portion of the offtake,” Bessent told reporters on April 9, saying such an agreement would help meet Trump’s goal of reducing the U.S. trade deficit.
Taiwan’s state oil and gas company CPC Corp. signed a letter of intent in March to purchase six million metric tons of gas from Alaska LNG, said Brendan Duval, CEO and founder of Glenfarne Group, the project’s lead developer.
“You can imagine the geopolitical enhancements whether it’s for tariff or military reasons — Taiwan is really, really focused on getting that signed up,” Duval told CNBC in an interview. CPC has also offered to invest directly in Alaska LNG and supply equipment, Duval said.
March trade mission
Duval and Alaska Governor Mike Dunleavy traveled to South Korea and Japan on a trade mission in March, meeting with high-ranking officials in government and industry. Japanese and South Korean companies have asked whether their development banks can help finance Alaska LNG, Duval said.
“Lately, there has been quite a lot of inquiries from India, so there’s a fourth horse that’s entered the race,” Duval said. Thailand and other Asian countries have also shown interest, he said.
The Alaska LNG project has three major pieces: The pipeline, a gas processing plant on the North Slope and a plant to liquify the gas for export at Nikiski, Alaska. These facilities are estimated to cost roughly $12 billion, $10 billion, and $20 billion respectively, Dunleavy said at an energy conference in Houston in March.
The permits for Alaska LNG are already in place, the CEO said. Glenfarne expects to reach a final investment decision in the next six to 12 months on the first phase of the project, a pipeline from the North Slope to Anchorage that will supply gas for domestic consumption in Alaska, Duval said.
Construction on the LNG plant is expected to begin in late 2026, the CEO said. The goal is to complete construction on the entire Alaska LNG project in four and a half years with full commercial operations starting in 2031, he said.
Alaska LNG plans to produce 20 million metric tons of LNG per year, equal to about 23% of the 87 million tons of LNG that the U.S. exported last year, according to data from Kpler, a commodity researcher.
Unleashing Alaskan resources
Alaska plays a central role in Trump’s goal to boost production and exports of U.S. oil and gas, part of the White House’s agenda for U.S. “energy dominance.” The president issued an executive order on his first day in office seeking to tap Alaska’s “extraordinary resource potential,” prioritizing the development of LNG in the state.
“We’ll have that framed on our walls in Alaska for decades,” Gov. Dunleavy said at the Houston conference last month, referring to the executive order.
Once a net importer, the U.S. has rapidly become the largest exporter of LNG in the world, playing an increasingly vital role in fueling power plants in Asia and Europe for allies with limited domestic energy resources. Japan and South Korea, for example, each took about 8% of U.S. LNG exports last year, according to Kpler data.
The Trump administration views Alaska LNG as “an important strategic project,” Interior Secretary Doug Burgum said at the Houston energy conference. LNG exports from Alaska would reach Japan in about eight days rather than having to pass through the congested Panama Canal from terminals on the Gulf Coast, Dunleavy said at the same conference.
“They can have the opportunity to get delivered to them the most efficient LNG from an allied partner,” while avoiding chokepoints, Duval said. “This is the only LNG the U.S. can supply that has a direct route, and they are very cognizant about that in today’s environment.”
North Pacific talks
Trump told reporters during a joint press conference with Japanese Prime Minister Shigeru Ishiba in February that the two countries were discussing the pipeline and the possibility of a joint venture to exploit Alaska oil and gas. Trump said he discussed the “large scale purchase of U.S. LNG” in an April 8 phone call with South Korea’s acting President Han Duck-Soo, and Korea’s participation in a “joint venture in an Alaska pipeline.”
Japan wants to maintain its security agreement with the U.S. against a rising China and avoid tariffs, officials at the Alaska Industrial Development and Export Authority told the Alaska Senate finance committee during a February presentation. “We are now in a completely ‘transactional’ trade world,” the executives said. Tokyo must invest more in the U.S., buy more LNG and enter a joint venture linked to Alaska oil and gas, they said.
The project would likely be a structured as a loose joint venture, with Asian partners signing contracts for large volumes of LNG, Duval said, and won’t necessarily translate into Japan, Taiwan and South Korea holding direct equity stakes in Alaska LNG, though Glenfarne is open to the possibility, he said.
Glenfarne’s goal is to be the long-term owner and operator of Alaska LNG with partners, Duval said. Glenfarne is a privately-held developer, owner and operator of energy infrastructure based in New York City and Houston. The company assumed a 75% stake in Alaska LNG from the Alaska Gasline Development Corporation in March, with AGDC keeping 25%.
Roadblocks and commercial viability
The Trump administration is clearly pressuring Japan, South Korea, and Taiwan to invest in Alaska LNG, said Bob McNally, president of Rapidan Energy and former energy advisor to President George W. Bush. Although Japan wants to both placate Trump and diversify its LNG supplies, Tokyo may yet hesitate to invest in Alaska LNG due to the project’s cost, complexity and risk, McNally said.
Another roadblock is that Democrats could return to power in 2028 and try to stop the project from advancing, citing environmental effects, McNally said. President Joe Biden, after all, paused permits for new LNG exports to countries including Japan that don’t have free trade agreements with the U.S. But Trump reversed Biden’s suspension as part of a torrent of executive orders tied to energy on his first day in office in January.
In addition to political risk, Alaska LNG “doesn’t have a clear cut commercial logic,” said Alex Munton, head of global gas and LNG research at Rapidan. “If it did, it would have had a lot more support than it has thus far, and this project has been on the planning board for literally decades,” Munton said. There are more attractive, existing LNG options for Asian customers on the Gulf Coast, he said.
The project is expensive even by the standards of an LNG industry that builds some of the costliest infrastructure in the energy sector, Munton said. The price tag of more than $40 billion likely needs to be revised upwards given that it is two years old, the analyst said.
“You have to assume that the costs are going to be much higher than the publicly quoted figures,” Munton said. Alaska LNG will likely need “public policy or a public commitment of funds to bring it to life,” the analyst said.
Duval said Alaska LNG will be competitive with no government subsidy. “It is a naturally competitive source of LNG, independent of the geopolitical benefits, independent of the tariff discussions,” he said.
“We have the support of the president of the United States,” Dunleavy said in Houston. “We have Asian allies that need gas. Geopolitical alliances are changing. Tariff questions are coming up. When we really look at it in that context, it’s a very viable project.”
ANCHORAGE, Alaska (KTUU) – Denali National Park & Preserve is offering travelers a unique way to celebrate the holiday season at the base of North America’s tallest peak.
“It’s a great place to come if you’re into snow and being cold,” said Amber Smigiel, Public Affairs Officer for Denali National Park and Preserve.
“If you come at night, you probably have a chance to see the auroras, and it is really beautiful here during the winter.”
Despite the cold and storms associated with winter at Denali, Smigiel said adventure-seekers are still allowed to attempt a summit of Mount McKinley.
“We don’t have any staff up there, so you’re pretty much on your own,” she said.
“We definitely don’t recommend doing it by yourself. Only, I think, 17 people have ever summited during winter, so it’s not a very realistic goal, but you know what? We’re not going to stop you if you want to try.”
For those looking for a calmer experience, Smigiel said there are several events and accommodations planned at the base of the mountain.
“The road is closed at mile 3 for cars, but you can ski, hike, snowshoe on the road and some of the hiking trails in the front country or even farther in the backcountry,” she said.
“You can winter camp if you’d like. We have our permits for that so you can come and sleep in the snow if that’s your thing. Our visitor center has snowshoes and the spikes, snow spikes, so you can go and rent some of that while you’re here.”
While Denali’s iconic bears are mid-hibernation, Smigiel said animal lovers still have a chance to catch a glimpse of the local wildlife.
“The kennels are open from one to four on Saturday and Sunday, so you can come see the dogs and the puppies during the winter,” she said.
“There are still moose and caribou and wolves. The moose sometimes come closer to the front of the park because they like to use the road just as much as people do.”
While visitors are welcomed to book a stay at Denali, Smigiel told Alaska’s News Source that some amenities may not be available during the winter.
“The one thing that you need to remember when you come to Denali during the winter is that there’s one restaurant and one grocery store and two gas stations that are open and those are about 10 miles from the park,” she said.
“Make sure that you have all your provisions with you, water, snacks, all that kind of stuff. We do have an indoor picnic area where you can go and get warm and, you know, fill your water bottles up and that kind of thing, but nothing that you can purchase while you’re in the park.”
Although current weather conditions have caused the park to reschedule, Smigiel said that rangers are planning to host a “Ski and Stroll” for the winter solstice, where visitors are invited to walk trails near the park.
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Alaska’s Maxime Germain has been named to the U.S. Olympic biathlon team and will compete at the 2026 Milano-Cortina Olympic Winter Games.
Germain, 24, who was born in Juneau and graduated from West Anchorage High School in 2019, will be making his Olympic debut.
“I am stoked to have qualified,” Germain said in a U.S. Biathlon release. “The goal is now to perform there! It is going to be my first Olympics, but it shouldn’t be any different from other racing. Same venue, same racing, different name!”
The announcement was made Sunday at the conclusion of the World Cup stop in France. He is currently 34th in World Cup rankings, the second-best American behind Olympic teammate Campbell Wright.
Germain has raced for the APU Nordic Ski Center and trained with the Anchorage Biathlon Club.
“Maxime has worked really hard throughout the off season, improving his mental game and bringing an overall level up to the World Cup this year,” U.S. Biathlon High Performance Director Lowell Bailey said in the release. “This showed right away at the first World Cup in Ostersund, where he proved he can be among the world’s fastest and best biathletes. Maxime will be a great addition to the U.S. Olympic team!”
Before coming to Anchorage, Germain grew up in Chamonix, France, and started biathlon there at age 13.
Germain is a member of Vermont Army National Guard as an aviation operations specialist and is studying to become a commercial pilot. Germain has trained with the National Guard Biathlon Team and races as part of the US Army World Class Athlete Program.
Germain joins Wright, Deedra Irwin and Margie Freed as the first four qualifiers for the 2026 Olympic Biathlon Team. The remaining members of the team will be announced on Jan. 6 following completion of the U.S. Biathlon Timed Trials.
The 2026 Winter Olympics run from Feb. 6-22 in Italy.
The Bureau of Land Management on Monday said it approved an updated management plan that opens about 82% of the National Petroleum Reserve-Alaska to oil and gas leasing.
The agency this winter will also hold the first lease sale in the reserve since 2019, potentially opening the door for expanded oil and gas activity in an area that has seen new interest from oil companies in recent years.
The sale will be the first of five oil and gas lease sales called for in the One Big Beautiful Bill Act that passed this summer.
The approval of the plan follow the agency’s withdrawal of the 2024 activity plan for the reserve that was approved under the Biden administration and limited oil and gas drilling in more than half the reserve.
The 23-million-acre reserve is the largest tract of public land in the U.S. It’s home to ConocoPhillips’ giant Willow discovery on its eastern flank.
ConocoPhillips and other companies are increasingly eyeing the reserve for new discoveries. ConocoPhillips has proposed plans for a large exploration season with winter, though an Alaska Native group and conservation groups have filed a lawsuit challenging the effort.
The planned lease sale could open the door for more oil and gas activity deeper into the reserve.
The Voice of the Arctic Iñupiat, consisting of elected leaders from Alaska’s North Slope, where the reserve is located, said it supports the reversal of the Biden-era plan. Infrastructure from oil and gas activity provides tax revenues for education, health care and modern services like running water and sewer, the group said.
The decision “is a step in the right direction and lays the foundation for future economic, community, and cultural opportunities across our region — particularly for the communities within the (petroleum reserve),” said Rex Rock Sr., president of the Arctic Slope Regional Corp. representing Alaska Natives from the region, in the statement from the group.
The reserve was established more than a century ago as an energy warehouse for the U.S. Navy. It contains an estimated 8.7 billion barrels of recoverable oil.
But it’s also home to rich populations of waterfowl and caribou sought by Alaska Native subsistence hunters from the region, as well as threatened polar bears.
The Wilderness Society said the Biden-era plan established science-based management of oil and gas activity and protected “Special Areas” as required by law.
It was developed after years of public meetings and analysis, and its conservation provisions were critical to subsistence users and wildlife, the group said.
The Trump administration “is abandoning balanced management of America’s largest tract of public land and catering to big oil companies at the expense of future generations of Alaskans,” said Matt Jackson, Alaska senior manager for The Wilderness Society. The decision threatens clean air, safe water and wildlife in the region, he said.
The decision returns management of the reserve to the 2020 plan approved during the first Trump administration. It’s part of a broad effort by the administration to increase U.S. oil and gas production.
To update the 2020 plan, the Bureau of Land Management invited consultation with tribes and Alaska Native corporations and held a 14-day public comment period on the draft assessment, the agency said.
“The plan approved today gives us a clear framework and needed certainty to harness the incredible potential of the reserve,” said Kevin Pendergast, state director for the Bureau of Land Management. “We look forward to continuing to work with Alaskans, industry and local partners as we move decisively into the next phase of leasing and development.”
Congress voted to overturn the 2024 plan for the reserve, supporting bills from Alaska’s Republican congressional delegation to prevent a similar plan from being implemented in the future.
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