During a two-day visit, March 24-25, Governor Dunleavy is scheduled to meet with South Korea’s Minister of Trade, Industry and Energy, Ahn Duk-geun, and hold discussions with key executives from South Korean energy firms including POSCO International, SK Innovation E&S, GS Energy, and SeAh Steel.
The focus of these meetings is reportedly on securing investment in the Alaska LNG project, a venture that envisions a 1,300-kilometer pipeline delivering 3.5 billion cubic feet of natural gas daily from Alaska’s North Slope.
South Korea, a major energy importer, is weighing participation in the project at a governmental level, driven by a desire to diversify its natural gas sources and potentially mitigate its trade surplus with the United States. This strategic interest reflects a broader geopolitical context, where energy security has become a paramount concern.
While South Korean companies have approached the project with a degree of caution, citing the scale of investment and the formidable logistical challenges posed by Alaska’s climate, they have initiated preliminary reviews, exploring potential opportunities across the LNG value chain.
POSCO International, with its experience developing a substantial gas field in Myanmar, and SK Innovation E&S, which holds a significant stake in Oklahoma's Woodford gas field and has a decade of LNG operations in the United States, bring relevant expertise.
However, the Alaska LNG project faces significant hurdles. The sheer magnitude of the investment, coupled with the complexities of operating in Alaska’s harsh environment, presents a formidable challenge.
“The depth of information shared about the project’s plan during next week’s meetings, along with detailed feasibility assessments and the scope of our government’s involvement, will be crucial factors in determining investment decisions,” said an energy industry official, speaking on condition of anonymity.
reporter
Kim Dong-young
davekim0807@ajupress.com
Copyright ⓒ Aju Press All rights reserved.
View more comments