President Donald Trump announced a $54 billion investment in Alaska’s energy sector on Wednesday, highlighting a liquefied natural gas (LNG) project poised to become the largest energy infrastructure development in U.S. history. The investment, originating from South Korea as part of a broader $350 billion commitment under a 2025 trade agreement, will finance the construction of an LNG export terminal and a pipeline stretching 807 miles to Alaska’s resource-rich North Slope.

The announcement came at the White House as part of a series of economic initiatives aimed at bolstering manufacturing and job creation ahead of the November 3 midterm elections. Trump praised Senator Dan Sullivan, a Republican facing a challenging re-election campaign, for his key role in advancing the pipeline project. Sullivan is currently trailing Democrat Mary Peltola in polls and contending with a third candidate who shares his name, complicating the electoral landscape. The president criticized the presence of the similarly named opponent on the ballot, emphasizing that “Daniel S.” Sullivan is the preferred candidate.

“This is the project that our state has been working on to try to get done for almost a half century,” Sullivan said during the announcement, stressing the pipeline’s significance in delivering affordable energy to Alaska. Officials projected the construction phase would create approximately 12,000 jobs and later reduce annual household energy costs in the state by between $1,500 and $2,200.

The LNG terminal and pipeline are seen as central components of Trump’s broader energy strategy, which prioritizes increased domestic production and aims to secure “energy dominance” for the United States. This approach includes expanding oil, natural gas, and coal development on federal lands and offshore areas.

Secretary of Commerce Howard Lutnick, present at the event, shared light-hearted remarks about Sullivan’s persistent advocacy on the project, underscoring the senator’s commitment.

This announcement followed Tuesday’s confirmation of plans by Minnesota-based Mesabi Metallics to build the largest steel plant in American history in eastern Iowa, another key element of the administration’s industrial agenda. Trump is scheduled to visit a Peterbilt Motors factory in Denton, Texas, on Thursday to promote job growth under his administration.

Alongside these initiatives, the president has outlined plans for an extensive 32-day campaign tour to support Republican candidates nationally, with a potential stop in Alaska. The emphasis on infrastructure and energy development represents a central theme in the president’s efforts to energize the party’s voter base ahead of the midterm elections.