Trump announces South Korean investment in Alaska pipeline as GOP races heat up

President Donald Trump unveiled plans Wednesday for South Korea to invest in exporting natural gas from Alaska, a project long championed by Republican Sen. Dan Sullivan, who faces a competitive reelection fight in the state. The announcement marks the second time in three days that Trump has spotlighted foreign investments in states where Republican Senate candidates are locked in tight races, following Monday's Oval Office event for a massive steel plant in Iowa.

The Alaska project consists of an 807-mile natural gas pipeline connecting the state's petroleum-rich North Slope to a liquefied natural gas export terminal in southern Alaska. The White House said the pipeline will eventually reduce energy costs for Alaskan residents by providing a reliable and secure supply. Commerce Secretary Howard Lutnick noted that liquefied natural gas could also be exported to Asian markets.

What does the Alaska pipeline project involve?

Officials said during the Oval Office event that building the pipeline will take three years, with liquefied natural gas exports beginning two years after that, assuming financing comes through fully. It remains unclear how quickly South Korea's government will approve the project or how much it plans to spend.

The pipeline is part of a broader series of projects Trump said would receive nearly $200 billion in South Korean funds, including a power plant in Texas and eight large-scale nuclear power plants. Further details on those investments have not been disclosed.

How does this connect to the trade deal with South Korea?

The investment stems from pledges made under a 2025 trade deal with South Korea, which included promises of $350 billion in U.S. investments in exchange for lower U.S. tariffs on South Korean cars, auto parts, and other products. Trump credited his tariff strategy for making the announcement possible.

Our trade agreement with South Korea, they have to invest hundreds of billions of dollars.

Trump also praised Sullivan during the event, saying, He's got my ear, and he's had my ear for a long time on Alaska. The president added that all these energy projects are all mine, and I got 'em done working with Dan Sullivan.

Sullivan responded, Mr. President, this one is huge for Alaska, noting he had been working on it relentlessly. He added that the sky is the limit when we get this project done.

Why is this announcement happening now?

The push to deliver big projects in states where GOP candidates could use a boost comes as Trump's approval ratings have sunk to nearly historic lows ahead of the midterm elections. Republicans are also contending with voters' historical tendency to reject whichever party controls the White House during midterms.

Trump has begun acknowledging that Republicans could face an uphill climb in their push to retain control of both chambers of Congress after November, but suggests it is because his administration hasn't done enough to promote its accomplishments.

I've done a very bad job of explaining,

the president said during an event in the White House's East Room, which came before the subsequent announcement on the Alaska investment. He has promised to help rectify that by spending much of the next 30 days on the road campaigning ahead of the midterms, though he is beginning that swing with trips to Texas, Alabama, Ohio, and Nebraska, which are all normally solidly red states.

What does this mean for Iowa?

Wednesday's Alaska event came two days after Trump announced plans for a $15 billion steel plant to be built in Iowa by a Minnesota company owned by an Indian industrial conglomerate. In Iowa, Republican Rep. Ashley Hinson is in a close U.S. Senate contest with Democratic state Rep. Josh Turek for the seat being vacated by retiring two-term Republican Sen. Joni Ernst. Hinson spoke in the Oval Office during the announcement.

Alaska and Iowa, where Trump won comfortably each time he has run for president, are among the states where Democrats are targeting Republican-held Senate seats in the 2026 midterm elections, less than five weeks away. Democrats need to gain a net of four seats in the 100-member Senate to overtake Republicans in the majority.

Sullivan, a two-term senator facing a competitive challenge from Democratic former Rep. Mary Peltola, has been a persistent advocate for the Alaska natural gas project and has encouraged South Korean investment.