Alaska Gas Chiefs Quit Over Russian Funds

The US$25 billion gas export project known as Polar Train LNG has lost almost its entire management team. A Financial Times report details allegations that Russia's Novatek secretly financed and directed the venture before receiving permission from Washington.

The project is located in northern Alaska. It launched in March 2026. The plan involves moving a partially built Novatek terminal to the Alaskan coast. The company asked the US Treasury Department for permission to negotiate with the Russian group. That approval has not yet been granted.

Joel Riddle, the former chief executive, told the newspaper he raised concerns about possible breaches of US sanctions. He said he discovered that Novatek was funding the venture and directing operations before required approvals were in place. Riddle resigned in September 2026. Chief financial officer Dan Chandra and other executives left after his departure.

"I resigned as chief executive of Polar LNG because I felt uncomfortable that the Russian company Novatek was financing and ultimately controlling the strategic direction of the company," Riddle said. He initially believed the money came from Gentry Beach and Tech Wave. Beach has ties to Donald Trump's family. Tech Wave is based in Abu Dhabi. Riddle later learned Beach was neither a shareholder nor an executive in the project.

The Financial Times reviewed WhatsApp messages from Novatek board member Denis Solovyov. The messages showed him discussing project financing and pressing for faster fund transfers to Polar Train LNG. Polar Train rejected the allegations. It stated that Riddle was dismissed and called him a disgruntled employee. The company insisted the project follows US law.

Novatek said it agreed to let Tech Wave use its technology in Alaska. The two sides signed a memorandum in April 2026. At that time, Riddle was still leading the company. People who spoke to the newspaper said the project came up in talks between Washington and Moscow. The discussions included a possible swap. Novatek would offer expertise for the Alaska terminal. In return, sanctions on Russia's Arctic LNG 2 project would be lifted.

In February 2026, reports indicated Gentry Beach announced an agreement with Novatek. On 9 October 2026, reports said Russia was seeking sanctions relief. This move was part of negotiations over a possible energy ceasefire with Ukraine.