Alaska LNG Executives Exit Over Russia Links

The management team of Polar Train LNG is nearly gone after its former chief executive alleged that Russia's Novatek secretly financed and directed the $25 billion Alaskan gas export project. The dispute centers on whether the company breached US sanctions while seeking Treasury permission to work with the Russian energy giant.

Joel Riddle told the Financial Times he raised concerns about potential sanctions violations. He stated that Novatek was funding the venture and steering its operations before the necessary government approvals were granted. Riddle resigned in September, prompting the departure of chief financial officer Dan Chandra and other senior executives.

"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.

Polar Train LNG launched the project in March. The plan involves taking a partially built Novatek terminal and relocating it to the Alaskan north. The company asked the US Treasury Department for permission to negotiate with Novatek, but that approval has not yet been granted.

Riddle said he originally understood that funding came from Gentry Beach, an investor with ties to the Trump family, and Tech Wave, an Abu Dhabi based company. He later learned that Beach was neither a shareholder nor an executive in the project and had not invested in it.

The Financial Times reviewed WhatsApp messages involving Denis Solovyov, a Novatek board member. The messages showed Solovyov discussing project financing and pressing for faster fund transfers to Polar Train LNG.

Polar LNG rejected the allegations. The company said Riddle was dismissed and described him as a "disgruntled employee." It insisted the project is being developed in line with US law. Novatek stated it agreed to let Tech Wave use its technology in Alaska and signed a memorandum with Polar Train in April, while Riddle was still leading the company.

Sources told the newspaper that the project featured in Washington and Moscow talks on business deals that might help end Russia's war against Ukraine. Discussions included a potential swap where Novatek would provide expertise for the Alaska terminal in exchange for lifting sanctions on Russia's Arctic LNG 2 project.

Reports in October said Russia was seeking sanctions relief as part of negotiations over a possible "energy ceasefire" with Ukraine. In February 2026, reports cited The New York Times to say Gentry Beach, a university friend of Donald Trump Jr, had announced an agreement with Novatek on an Alaskan gas project.

The project remains stalled while questions about ownership and compliance linger. The Treasury Department has not yet responded to the company's request for permission to negotiate with Novatek.