Taiwan Premier Cho Jung-tai has officially confirmed the government's commitment to the Alaska LNG project following President Donald Trump's announcement. As reported by TradingView News, when asked about Trump's comments, Cho Jung-tai told reporters that the government's job is to 'stabilize the entire energy supply and build its resilience, like governments everywhere.' This represents the first official confirmation from Taiwan's leadership since Trump's Tuesday rally announcement in Wasilla, Alaska.
Taiwan announced on Wednesday that it is making progress in negotiations to purchase liquefied natural gas from Alaska and plans to invest up to $4.4 billion in the project. According to reports from The Times of India, Taiwan's economy ministry stated that state-owned energy company CPC Corp has made significant progress with the project developer after nearly 18 months of negotiations and evaluation. The company would purchase 6 million metric tonnes of LNG annually once production begins, in line with a letter of intent signed in March 2025 with Alaska Gasline Development Corp.
The investment represents Taiwan's effort to increase purchases of US natural gas and reduce dependence on other suppliers. As reported by The Times of India, earlier in February, officials said US gas would account for about one-third of the island's imported supply this year. The proposed Alaska LNG project is designed to export up to 20 million metric tonnes of LNG annually, with the project having been discussed for decades but commercial viability remaining a concern for some industry experts. According to Reuters, the project has secured tentative agreements covering about 13 million tons annually, with Trump's 30% figure broadly corresponding to that amount.
Alaska LNG's lead developer Glenfarne plans a roughly 739-mile pipeline with targets for mechanical completion in 2028 and first gas in 2029. The second phase would add liquefaction, gas treatment and related infrastructure. Reuters estimates the full project could cost roughly $44.5 billion to $54.5 billion, substantially more per unit of capacity than recent Gulf Coast LNG plants. Taiwan's interest reflects its dependence on imported fuel, with the US Energy Information Administration reporting that the island imported more than 94% of its energy needs in 2024, while natural gas supplied about 25% of primary energy consumption and 43% of electricity generation.
The announcement puts US LNG exporters such as Cheniere Energy Inc. and Venture Global Inc. in focus as Asian contracting demand grows. Cheniere has recently benefited from stronger global LNG conditions, while Venture Global has expanded LNG supply agreements and project financing. Broader benchmarks including the S&P 500 Energy sector index have surged more than 50% in 2026 amid higher energy prices. South Korea is also considering participation in Alaska LNG as part of broader US investment discussions, although Seoul has not finalized its role.
