President Donald Trump and Commerce Secretary Howard Lutnick announced a sweeping U.S.-South Korea energy investment package on September 30, 2026, centered on a massive natural-gas power complex in Texas, up to eight new nuclear reactors and the long-planned Alaska LNG project. Official U.S., South Korean and company documents confirm the three-project framework, while also showing that some parts still require final negotiations, regulatory approvals and investment decisions.
WASHINGTON — September 30, 2026 — President Donald Trump, joined by Commerce Secretary Howard Lutnick, Energy Secretary Chris Wright, Interior Secretary Doug Burgum and Alaska officials, unveiled what the administration described as one of the largest energy infrastructure investment packages in U.S. history.
Trump said the package could direct close to $200 billion in South Korean investment toward three major U.S. energy projects: a large natural-gas power campus in Texas, eight nuclear reactors across the United States and the Alaska LNG pipeline and export project.
The White House event was titled “President Trump Makes an Announcement with the Secretary of Commerce.â€
Three Projects Behind the Announcement
The South Korean government says the two countries are advancing three strategic investment projects:
- Project Star — a gas-fired power project in Texas;
- Project Power — a U.S.-Korea nuclear power framework;
- Project North — the Alaska LNG project.
South Korea’s Ministry of Finance and Economy says the projects follow the bilateral trade agreement and the Korea-U.S. Strategic Investment Memorandum of Understanding.
Official South Korean Ministry of Finance and Economy release
Project Star: $22.3 Billion Texas Energy Campus
The most concrete project announced is Project Star, a massive natural-gas-powered energy and data-center campus planned for Encinal, Texas.
According to the South Korean government and NextEra Energy, the project has a total cost of approximately $22.3 billion and will have about 6.47 gigawatts of generation capacity.
The project is being developed by Related Companies and NextEra Energy Resources in partnership with Lewis Energy Group.
The power complex is designed to serve an adjacent 5-gigawatt digital infrastructure campus, with excess electricity available for the Texas grid.
NextEra says construction could support approximately 8,400 jobs at peak activity, while the power campus is expected to support around 170 permanent jobs after completion.
NextEra Energy: Project Star announcement
Up to $120 Billion for Eight U.S. Nuclear Reactors
The second major component is an ambitious nuclear-power framework.
Westinghouse says the U.S.-Korea framework contemplates up to $120 billion in Korean investment to help finance construction of eight large nuclear reactors in the United States.
The proposed reactor mix includes six Westinghouse AP1000 reactors and two Korean APR1400 reactors.
Westinghouse: U.S.-Korea nuclear framework
The Nuclear Projects Are Not Yet Finalized
The announcement does not mean eight reactors are already under construction.
South Korea’s Ministry of Finance and Economy says the nuclear framework establishes the general direction for cooperation, but individual projects, sites and commercial terms still require further review.
Westinghouse likewise says the framework is non-binding and subject to final negotiations.
That distinction is important: the $120 billion figure represents a proposed investment framework, not completed construction spending.
Alaska LNG: More Than $50 Billion Under Discussion
The third component is the long-delayed Alaska LNG project.
Trump described it as one of the largest energy infrastructure projects in U.S. history and said it would deliver Alaska natural gas both to domestic customers and export markets in Asia.
Glenfarne Group, the lead developer and majority owner of Alaska LNG, described more than $50 billion in prospective U.S.-Korea investment supporting the project.
The project includes an approximately 807-mile, 42-inch natural-gas pipeline from Alaska’s North Slope, a gas-treatment plant and an LNG export terminal in Nikiski capable of producing up to 20 million metric tons annually.
Alaska LNG / Glenfarne official newsroom
The Federal Energy Regulatory Commission authorized the Alaska LNG project in 2020.
FERC: Alaska LNG project authorization
Alaska LNG Has Not Yet Reached Final Investment Decision
The investment package is intended to move Alaska LNG toward a final investment decision, or FID, but the investment structure still requires final commercial decisions.
The South Korean government says Korea and the United States will review the project and determine whether to proceed after commercial viability requirements and domestic legal procedures are satisfied.
That means Alaska LNG is a major part of the announced framework, but financing and execution are not yet equivalent to a completed final investment decision.
Why Alaska LNG Matters
The Alaska LNG project is designed to transport natural gas from the North Slope south through Alaska to the Kenai Peninsula.
The Alaska Gasline Development Corporation says North Slope fields could supply roughly 3.5 billion cubic feet of natural gas per day to the integrated project.
Alaska Gasline Development Corporation: Project overview
The project’s Pacific location is one of its central strategic arguments: LNG from Alaska could reach major Asian markets through a shorter route than many Gulf Coast cargoes.
Up to 12,000 Construction Jobs Cited for Alaska Project
Trump said Alaska LNG could generate approximately 12,000 construction jobs and around 1,000 operational jobs.
The 12,000 figure has also been used by the project’s developers as an estimate tied to full construction of the project. It should therefore be understood as a projected employment figure, not a current job count.
The Texas Project Is Further Along Than Nuclear and Alaska LNG
The official documents show an important difference among the three projects.
Project Star in Texas is the most advanced.
South Korea’s government says it has already completed domestic review procedures for the project. By contrast, nuclear projects still require project-by-project negotiations and Alaska LNG remains subject to commercial review and a final investment decision.
That means the headline number — nearly $200 billion — represents a package of projects at different stages of development, rather than $200 billion already spent or under construction.
Trump Links the Projects to the U.S.-Korea Trade Deal
Trump and Lutnick repeatedly connected the investments to the broader trade agreement between Washington and Seoul.
Trump said the administration reduced tariffs on South Korean goods to 15% in conjunction with investment commitments.
South Korea’s finance ministry confirms that the strategic investment program follows the bilateral trade agreement and the investment framework negotiated between the two governments.
Nuclear Expansion Also Targets AI Power Demand
The nuclear component is not only about traditional electricity generation.
Westinghouse says the planned reactors could help meet rising power demand from AI, data centers, electrification and U.S. industrial expansion.
The same theme appears in Project Star, which is designed to supply a large adjacent data-center campus.
Taken together, the projects illustrate the increasingly close connection between U.S. energy policy, industrial investment and the electricity requirements of artificial intelligence and large-scale computing.
What Is Confirmed
- The U.S. and South Korea are advancing three strategic investment projects.
- Project Star is a $22.3 billion, approximately 6.47-gigawatt Texas power project.
- The nuclear framework contemplates up to $120 billion for eight reactors.
- Alaska LNG includes an approximately 807-mile pipeline and a 20-million-metric-ton-per-year LNG terminal.
- The Alaska LNG project has federal authorization from FERC dating to 2020.
What Is Not Final Yet
Major qualifications remain.
The nuclear framework does not mean that eight specific reactors have received all approvals or entered construction. Individual projects still require negotiation, site decisions, licensing and financing.
Alaska LNG also remains on the path toward a final investment decision rather than having completed that process.
Those caveats do not negate the September 30 announcement, but they clarify the difference between an investment framework and money already deployed into completed projects.
Key Facts
- Announcement date: September 30, 2026
- Location: White House, Washington
- Overall framework: Nearly $200 billion in potential U.S.-Korea energy investment
- Project Star: $22.3 billion
- Texas power capacity: Approximately 6.47 GW
- Nuclear framework: Up to $120 billion
- Planned nuclear reactors: Eight
- Alaska LNG: More than $50 billion under the announced framework
- Alaska pipeline: Approximately 807 miles
- LNG terminal capacity: Up to 20 million metric tons annually
- Alaska LNG status: Moving toward final investment decision
- Nuclear status: Framework announced; individual projects not yet finalized
Official Sources and Primary Documents
- The White House — official video library
- Republic of Korea Ministry of Finance and Economy — strategic investment projects
- NextEra Energy — Project Star announcement
- Westinghouse — U.S.-Korea nuclear framework
- Alaska LNG / Glenfarne — project announcements
- Federal Energy Regulatory Commission — Alaska LNG authorization
- Alaska Gasline Development Corporation — project overview
Video
President Trump Makes an Announcement with the Secretary of Commerce
The White House
September 30, 2026
Watch the full White House video on YouTube
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