A natural gas pipeline in Alaska and eight large-scale nuclear reactors could be built as part of a $200 billion preliminary deal between the United States and South Korea.

President Donald Trump is expected to announce the deal in the Oval Office on Wednesday afternoon, according to a White House official. It's part of a larger trade deal that the U.S. and South Korea agreed to in principle last year, that involved Korea agreeing to spend $350 billion on U.S. projects. In return, most Korean goods were subjected to a relatively modest 15% tariff rate.

The Alaska project has been percolating for more than a decade, but the financing has never fully materialized.

It entails building a gas treatment plant in Alaska's North Slope, which already has substantial oil and gas production. From there, the gas would be transported through a new 800-mile pipeline to the south near Anchorage, where most of it would be liquefied and shipped to Asia.

The plant is expected to ship about 20 million metric tons of LNG per year, which would make it the third-biggest LNG plant in the U.S. if it were completed today. The project has already received permits and made deals for some of its expected output.

South Korea is expected to provide $54 billion for the project, though the exact form of that spending has not been revealed.

Japan, in a similar deal, is using loans and loan guarantees to satisfy much of its funding commitment. The project developer is privately held Glenfarne Group, which owns 75% of the project. The state of Alaska owns the other 25%. ConocoPhillips has inked a 30-year supply deal with Glenfarne to pump its production through the pipeline. Oil services firm Baker Hughes has also been tapped to provide compressors, and has made a financial investment in the project.

South Korea is also expected to finance eight large nuclear reactors in the U.S., which together could provide enough power to at least 8 million homes-or several extremely large data centers.

At least some of the reactors are expected to be AP1000s, a design developed by Pennsylvania company Westinghouse Nuclear, which recently filed plans to go public. Westinghouse is owned by uranium miner Cameco and energy developer Brookfield Renewable Partners. Korean companies could also be expected to benefit. Korean industrial giant Doosan is a top supplier of pressure vessels and other major parts for reactors, for instance.