Taiwanese state energy firm CPC Corp signed an initial agreement with Alaska Gasline Development Corp（AGDC）to buy liquefied natural gas (LNG) and invest in the project, Taiwan's Ministry of Economic Affairs said on Thursday.
CPC is striving to participate in the project's upstream gas investment to secure stable energy resources for Taiwan, according to the statement.
Officials from the state-run AGDC and development partner Glenfarne Group are visiting Asian countries this week to court investors for a natural gas project that President Donald Trump says could pump trillions of dollars into the U.S., although analysts say the project's high costs had been a focal point for years.
The officials want to transport gas south from Alaska's remote north via a $44 billion, 1,300-km (800-mile) pipeline, to be shipped as LNG to Japan, South Korea and Taiwan, bypassing the Panama Canal.
