President Donald Trump announced Thursday that South Korea has committed $54 billion toward the development of an Alaska liquefied natural gas pipeline, a major infrastructure project that has been discussed for more than half a century without coming to fruition. The investment marks one of the largest foreign commitments to a domestic energy project in U.S. history.

The agreement encompasses not only the Alaska LNG pipeline but also cooperation on nuclear power development, broadening the scope of the U.S.-South Korea energy partnership. South Korean state and private entities are expected to participate in financing and potentially offtake agreements for the liquefied natural gas, which would be exported to Asian markets.

The Alaska LNG project, which would carry natural gas from the North Slope to a liquefaction terminal on the southern coast of the state, has faced repeated delays over its lengthy history due to financing challenges, regulatory hurdles, and fluctuating global energy prices. Supporters argue the project would unlock vast Alaskan energy reserves and strengthen American export capacity in a competitive global LNG market.

The announcement comes as the Trump administration has pursued an aggressive energy expansion agenda and sought to deepen trade and investment ties with South Korea. Officials framed the deal as a win for both U.S. energy infrastructure and the bilateral economic relationship between Washington and Seoul.

Environmental groups are expected to scrutinize the project given its scale and the carbon emissions associated with expanded LNG production and export. The pipeline would traverse hundreds of miles of Alaskan terrain, raising questions about construction impacts on sensitive ecosystems and indigenous communities along its route.