Taiwan's state‑owned CPC Corp. said on Wednesday that it was making progress in its 18‑month negotiation with the Alaska Gasline Development Corporation, after President Trump announced a 30% purchase agreement—an assertion that has stoked debate about the project’s future.
The letter of intent signed last year commits CPC to buy 6 million metric tonnes of LNG annually, a figure that sits well below the project’s 20 million‑tonne capacity. The deal would open a direct corridor from U.S. storage to Asian markets, bypassing the Panama Canal and reducing shipping times.
Taiwan President Lai Ching‑te remarked that the investment would strengthen the island’s energy security and help narrow the trade surplus with the United States. He added that CPC’s commitment is part of a broader strategy to diversify gas supplies.
U.S. Commerce Secretary Howard Lutnick, present at a Republican National Committee event, confirmed that Taiwan had pledged $4.4 billion toward the pipeline’s development. He also highlighted the strategic importance of the project for U.S. energy exporters.
CPC said that investment arrangements and equity stakes will be hammered out in subsequent negotiations; no binding contract has been signed yet. The next milestone will be a formal agreement that locks in the 6 million‑tonne purchase and finalises the $4.4 billion investment.