Alaska Gas Project Heads Quit

Nearly the entire leadership team of Polar Train LNG has departed the US$25 billion gas export project. The exodus follows allegations that Russia’s Novatek secretly financed and directed the venture. Joel Riddle, the former chief executive, told the Financial Times that he raised concerns about potential breaches of US sanctions. The company is developing an export terminal in northern Alaska. The project launched in March of this year and involves relocating a partially built Novatek terminal to the Alaskan north.

Polar Train LNG requested permission from the US Treasury Department to negotiate with the Russian group. Approval has not yet been granted. Riddle stated that Novatek was funding the venture and directing operations before those approvals were in place. He resigned in September. Chief Financial Officer Dan Chandra and other executives followed his departure.

Riddle explained his decision in a statement. "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," he said. Riddle initially believed the 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 had not invested in the project. Beach was neither a shareholder nor an executive.

The Financial Times reviewed WhatsApp messages between Novatek board member Denis Solovyov and others. In the messages, Solovyov discussed financing the project. He pressed for a faster transfer of funds to Polar Train LNG. Polar LNG rejected the allegations. The company said Riddle had been dismissed. It called him a "disgruntled employee" and insisted the project aligned with US law.

Novatek responded by saying it agreed to let Tech Wave use its technology in Alaska. The companies signed a memorandum in April while Riddle was still leading the firm. People who spoke to the newspaper said the project came up in business talks between Washington and Moscow. These discussions aimed to find deals that might help end Russia’s war against Ukraine. Reports indicated a possible swap where Novatek would provide expertise for the Alaska terminal. In return, sanctions on Russia’s Arctic LNG 2 project would be lifted.

The dispute has roots in earlier reports. In February 2026, Ekonomichna Pravda cited The New York Times to report that Gentry Beach, a university friend of Donald Trump Jr., announced an agreement with Novatek on an Alaska gas project. On October 9, reports said Russia sought sanctions relief. This move was part of negotiations over a possible "energy ceasefire" with Ukraine.