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Market Chatter: South Korea Eyes $22 Billion Texas Gas Power Project

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South Korea is considering a $22 billion investment to acquire a gas-fired power project in Texas under a trade deal and investment deal with Washington, Bloomberg News reported Wednesday, citing local media.

The initiative aims to ease bilateral trade tensions and secure power to meet surging electricity demand from the artificial intelligence sector, the report said.

The proposed new project in Encinal, Texas, would have a total capacity of 6.3 gigawatts and will start with 1.4 GW of gas-turbine generation before adding 4.9 GW of combined-cycle capacity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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