Vance Confirms Alaska LNG Project Will Proceed Despite South Korea's Request to Assess Its Value

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JD Vance, the US vice president, has confirmed that the liquefied natural gas project in Alaska will move forward, even though several details still need to be discussed with South Korea. Speaking to reporters on Monday, October 5, he said the project will happen because the market has a high level of demand for natural gas from the United States. Earlier, President Donald Trump announced last week that South Korea will invest 200 billion dollars in various US projects, including the natural gas pipeline project in Alaska, though no final conclusion has been reached. Meanwhile, Lee Hyung-il, South Korea's finance minister, told parliament on Tuesday, October 6, that the government will begin reviewing investment in the project to assess its commercial viability. Kim Jong-kwan, South Korea's industry minister, told another parliamentary committee that commercial viability is a key condition of the project, but the project also has strategic importance given energy supply disruptions caused by conflict in the Middle East.