Documents and interviews indicate a Russian energy company secretly financed a U.S. firm involved in talks with the Kremlin over an Alaska gas project
Executives have quit Polar LNG, an American startup seeking to liquefy and export Alaska North Slope gas, saying they recently learned it was secretly funded by Russia’s Novatek, The Wall Street Journal reported. Former chief executive Joel Riddle alleged Novatek also directed the project before necessary U.S. approvals were secured.
More context
Several executives have departed Polar LNG, the U.S. startup pursuing North Slope gas exports, saying they only recently discovered undisclosed financing from Russia’s Novatek. The project aims to use Russian technology to extract and liquefy the gas for export. Interviews and documents reviewed by The New York Times indicate Novatek supplied undisclosed backing to the U.S. firm; the Russian company was also slated to provide the technology and is subject to U.S. sanctions. Former chief executive Joel Riddle alleged Novatek had been directing the venture before Treasury approval for negotiations with the Russian company was in place. Polar LNG disputed his account, calling Riddle a disgruntled former employee who had been terminated, and said its development work complied with U.S. law. Novatek told the Times it was moving to acquire minority-shareholder status in the project.
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Reporting
- The New York Times — In U.S. Gas Talks With Kremlin, Hidden Financing for Alaska Project Emerges
- The Daily Beast — Secret Russian Funding Revealed in Trump-Putin Energy Scheme
- The Wall Street Journal — U.S. Energy Execs Say They Quit Startup Over Undisclosed Russian Funding - WSJ
- eurasiabusinessnews.com — Polar Train LNG Executives Quit Over Alleged Russian Control of $25 Billion Alaska Project – Eurasia Business News
- mezha.net — US Firm Plans Alaska LNG Project With Secret Russian Funding | Межа
- investing.com — Alaska LNG developer faces scrutiny over funding from sanctioned Russian firm - FT
- sfg.media — Nearly All Senior Executives at a $25 Billion American Gas Project in Alaska Have Resigned - SFG Media
Verifier’s note
The results report that Novatek secretly financed the Alaska gas venture, matching the event’s central claim, and The New York Times is within about 24 hours of the current time. Several same-day reports also describe the allegations and executive departures.