An American gas production project in Alaska is secretly controlled by Novatek...

Original source

An American gas production project in Alaska is secretly controlled by Novatek — Financial Times and The New York Times

Russia’s Novatek is financing a project to build a gas terminal in Alaska, being developed by the American company Polar Train LNG, and effectively determines the company’s strategy. Joel Riddle, the former CEO of the American company, told the Financial Times and The New York Times this.

Polar, founded in March 2026, plans to build a terminal for producing and exporting liquefied natural gas (LNG) in northern Alaska. The project is estimated to cost

5 billion. The company planned to use equipment and technologies employed at Novatek’s Arctic LNG 2 terminal, which has been placed under U.S. sanctions. To use them, Polar needed to obtain permission from the U.S. Treasury Department.

In August, executives of Polar and its parent company, Tech Wave Industrial Projects Management, met at the Four Seasons hotel in Abu Dhabi. Riddle said he initially believed the project was being financed by American investor Gentry Beach, who has ties to Donald Trump’s family, and by Tech Wave. The NYT writes that representatives of Novatek’s management attended the meeting in Abu Dhabi.

Riddle said that at that point he discovered that Novatek was already financing the Alaska terminal project and effectively running Polar’s operations, although no permissions from U.S. authorities for transactions with the Russian company had yet been obtained. Riddle resigned in September, and some top managers left the company after him.

The NYT also obtained correspondence indicating that Novatek deputy chairman of the management board Denis Solovyov and company head Leonid Mikhelson discussed providing

5 million to Tech Wave for the Alaska project.

@meduzalive

Alaska Terminal With a Hidden Manager

A former chief said a Russian company funds the project and sets its strategy.

No permission yet, but management already arrived.