US to hold summit on Alaskan gas project involving Japan and South Korea

According to information from informed sources reported by Reuters, the US President's Energy Security Council is planning to hold a summit in Alaska at the beginning of June. As the US administration expects, by that time Japan and South Korea will announce their commitments to a liquefied natural gas (LNG) project in the northern state.

The agency notes that Trump sees great potential for the said $44 billion LNG project. It is supposed to deliver gas from the Alaskan fields through an 800-mile long (1,300 km) pipeline for domestic needs and send LNG cargos to consumers in Asia, avoiding the Panama Canal.

Despite years of discussion around the project, its realization has been held back by high costs and large amounts of work required.

Trump, who has been urging allies to buy US energy, recently called on Japanese Prime Minister Shigeru Ishiba to support the Alaska pipeline project plan.

Last month, Taiwan's state-owned CPC Corp signed a non-binding agreement with Alaska Gasline Development Corp to buy LNG and invest in the venture.