By Jennifer A. Dlouhy and Stephen Stapczynski
Oct 14, 2026 (Bloomberg) –President Donald Trump said Taiwan had agreed to buy 30% of the liquefied natural gas from a planned project in Alaska for 20 years, even as Taipei indicated that no binding commitments have been finalized.
Trump also said the island would invest an additional $4.4 billion to see the project completed, touting the initiative ahead of US midterm elections. He announced the commitments during a campaign event in the state on Tuesday night, saying it “guarantees the success” of the development despite doubts about whether it will ever be constructed.
The Alaska LNG venture has struggled for decades to secure the binding long-term contracts and investments needed for it to move forward. Trump earlier this month said that South Korea would invest $54 billion to construct the project, before the country’s industry minister walked back the claim, saying the investment hinged on commercial viability.
Taiwan plans to procure 6 million tons a year of LNG from the export project and participate in project development, though “specific investment arrangements, equity stakes and related terms will be determined through subsequent negotiations and commercial contractual processes,” the Ministry of Economic Affairs said in a statement.
If the project goes according to schedule, it is expected to begin supplying gas from 2032 at the earliest, and will be key to the island’s efforts to diversify gas sources, it said.
Taiwan’s CPC Corp. previously signed a non-binding letter of intent to consider an investment in the project. CPC will continue to coordinate with relevant US entities on procurement, investment and related matters, and will conduct project studies and budget approval procedures in accordance with corporate protocols, the economy ministry said.
Read More: Trump Threatens South Korea Over Alaska LNG Project Dispute
The war in the Middle East has disrupted energy flows through the Strait of Hormuz — which used to carry roughly a fifth of global LNG — prompting importers to look for alternatives. Taiwan, which relies heavily on imported energy, has been increasingly looking to the US and last year announced plans to triple the share of American LNG in total imports to 30% over the next decade.
The Alaska project is massive in scale, requiring the construction of an 800-mile (1,287 kilometer) pipeline across the state. Multibillion-dollar liquefaction facilities are also necessary to convert the gas for export.
The project is seen as politically important for Trump and Republicans before elections on Nov. 3 that will determine control of Congress. The state has a competitive Senate race and Trump has championed the Republican incumbent, Dan Sullivan, a vocal advocate for the pipeline.
The president on Tuesday also said that said that all permits needed to build the LNG project had been approved.
The decision to travel to Alaska underscores the danger facing Trump’s Republican Party three weeks before Election Day. The GOP confronts a number of competitive House and Senate races as it struggles to retain control of Congress, including in states such as Alaska that are traditionally safe ground for the party.
Trump has been barnstorming the country to help bolster Republican prospects, though that travel has been largely limited to states seen as traditional GOP strongholds. Trump’s approval ratings are at historic lows, driven by voter anger over costs of living and the Iran war — which has brought higher energy prices — making him a liability for many Republican candidates.
With Democrats needing to flip four seats to gain control of the Senate, Sullivan’s unexpectedly tight reelection contest against former Democratic Representative Mary Peltola has generated anxiety among Republicans. The last time Alaska elected a Democrat to the US Senate was nearly two decades ago.
Vice President JD Vance was also in Alaska last week to boost Sullivan as well as US Representative Nick Begich.
© 2026 Bloomberg L.P.
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