POSCO International Eyes Stake in U.S.-Led Alaska LNG Project

POSCO International is reviewing its involvement in the U.S.-backed Alaska LNG project, marking the first Korean company to consider such a move. The project aims to transport natural gas from Alaska through a pipeline for export, revitalized by geopolitical interests and recent U.S.-Korea agreements.

In a bold move, South Korea's POSCO International has commenced an evaluation of its participation in the Alaska liquefied natural gas (LNG) project, led by the United States. This positions them as the pioneering Korean company to officially explore involvement in the extensive energy venture.

This development coincides with U.S. President Donald Trump's demonstrated enthusiasm for the project, according to a report by Pulse, the English-language service of Maeil Business Newspaper Korea. Foreign media sources indicate that POSCO International signed a preliminary agreement last Wednesday at the Gastech exhibition in Milan with Glenfarne, the project's developer, to supply 1 million tons of LNG annually over 20 years. Furthermore, the contract outlines provisions for providing POSCO steel products for a massive 1,300-kilometre pipeline required for the project.

The LNG project represents a significant milestone in energy transportation, involving the movement of natural gas from Alaska's North Slope via a newly constructed pipeline to a liquefaction plant near Anchorage. The project, which was initially proposed over a decade ago, had stagnated due to high investment costs and associated risks, only to be revitalized in 2025 through Trump's executive order and strategic international investments.

(With inputs from agencies.)