Alaska governor seeks Korean partners for $44 bn LNG project

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Alaska governor seeks Korean partners for $44 bn LNG project - Korea Economic Daily

Quick Summary:

Alaska Governor Mike Dunleavy visited South Korea on Monday to hold a series of one-on-one meetings with top executives from Korean energy and steel companies as the state seeks partners for its $44 billion liquefied natural gas (LNG) development project, according to diplomatic and energy industry sources.

Officials of the companies invited for one-on-one meetings with the Alaskan governor said they will assess the project's commercial viability carefully, citing Alaska’s harsh enviromental conditions and high development costs.“We’ll listen to the governor’s plans in detail and consider various ways before making any commitment,” said one executive involved in the discussions.

PRESENCE IN US LNG SUPPLY CHAINSeveral Korean firms have already established a presence in the US LNG supply chain.SK Innovation E&S Co.operates gas field projects in the US, while POSCO Holdings Inc.supplies specialized steel plates and LNG storage tanks.