POSCO INTERNATIONAL is reviewing participation in the Alaska liquefied natural gas (LNG) project pursued by the Trump administration.
According to Reuters and other foreign media on the 12th, POSCO INTERNATIONAL the previous day signed a preliminary agreement at Gastech, the world's largest gas exhibition held in Milan, Italy, to receive 1 million tons (t) of LNG annually for 20 years from Glenfarne, the developer leading the Alaska LNG project.
The agreement also includes supplying POSCO's steel products for the construction of about 1,300 kilometers of pipelines needed for the Alaska LNG project.
The Alaska project, a policy initiative of the Trump administration, is a business to export natural gas developed from the Prudhoe Bay field on the Arctic Ocean coast by transporting it via a roughly 1,300-kilometer gas pipeline to the Nikiski export terminal.
President Donald Trump has asked Korean corporations to participate in various forms of the project, including equity investment, LNG imports, and engineering, procurement and construction (EPC).
A POSCO INTERNATIONAL official said, "The preliminary agreement signed this time is a nonbinding letter of intent. If feasibility and profitability are secured, we plan to participate in the project through the company's internal decision-making process."