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Trump says he didn't act prematurely on Alaska LNG; warns South Korea costs could be "doubled" without a prompt signature

Milena Thomas
Published Oct 4, 2026
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Summary:
  • Donald Trump said he "didn't jump the gun" when unveiling South Korea's prospective involvement in an Alaska LNG venture valued at $50 billion.
  • He told reporters Friday, "If they don't want to do it, that's OK with me. I'll just charge them more," adding, "Tell them if they don't sign shortly, I'm going to double it up."
  • On Truth Social Friday, he said the investment deal "keeps getting BETTER," and unveiled a separate enhanced oil recovery project priced at an additional $8.4 billion.

What Trump said and why it's buzzing

I'll just charge them more. Local outlets in South Korea suggested he might have been pointing to higher tariffs on the country. Trump did not clarify what, specifically, he intended to "double." The remarks land amid a broader gap between Washington and Seoul over planned U.S. energy and infrastructure investments, with projects Trump has talked up that South Korea says are not yet finalized.

Energy export decisions lock in capital for decades and reshape regional economies along the way. Market Briefs covers those bets free every morning.

Seoul's stance and the extra oil project

South Korea says its review of the Alaska LNG project is ongoing, and any involvement would depend on whether it makes commercial sense and meets domestic legal procedures. Separately on Friday, Trump posted that South Korea's investment deal "keeps getting BETTER," and introduced what he described as an enhanced oil recovery project carrying an additional $8.4 billion price tag. Enhanced oil recovery involves techniques like injecting carbon dioxide to boost crude output from reservoirs.

Media in South Korea reported - citing the industry ministry - that agreements between Seoul and Washington did not encompass this oil recovery project. According to the report, the ministry moved to validate the announcement and reached out to the U.S. via trade channels to request clarification.

What it means for your wallet

The tug of war over what is actually committed versus still under review matters for timelines and costs.

Big LNG projects move gas prices, jobs, and utility bills for years. Get the free Market Briefs daily newsletter and follow the build.

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