- Category
- World
Sanctioned Russian Giant Allegedly Controlled $25B Alaska Gas Project Linked to Trump Jr.’s Friend
Prefer U24 Media on Google
- Authors
![Photo of Ivan Khomenko]( "Photo of Ivan Khomenko")
Senior executives at a US liquefied natural gas company resigned after discovering that sanctioned Russian energy giant Novatek was allegedly financing and directing a $25 billion gas export project in Alaska, despite lacking the necessary US government authorization.
We bring you stories from the ground. Your support keeps our team in the field.
According to the Financial Times on October 24, former Polar LNG chief executive Joel Riddle stepped down in September after learning that Novatek was allegedly influencing the company’s strategic decisions. Nearly the entire senior management team subsequently resigned.
The project, known as Polar Train, was designed to develop LNG export infrastructure on Alaska’s North Slope and supply Asian markets, supporting Washington’s ambitions to expand US energy exports.
The venture was initially associated with Gentry Beach, a longtime friend of Donald Trump Jr. who also served as a finance vice-chairman for President Donald Trump’s 2017 inauguration.
However, Riddle told the Financial Times that he later discovered Beach had not invested in the company and held no ownership or executive position. Instead, he alleged that funding was coming from Russian interests.
The project involved plans to repurpose partially completed LNG production equipment originally intended for Novatek’s Arctic LNG 2 facility in Siberia, which has been targeted by US sanctions.
According to The New York Times, internal correspondence indicated that Novatek executives, including chief executive Leonid Mikhelson, discussed providing up to $15 million in financing through UAE-based Tech Wave.
Novatek acknowledged an agreement allowing Tech Wave to use its technology in Alaska and confirmed signing a memorandum of understanding with Polar Train in April. The Russian company also told the New York Times that it intended to acquire a minority stake in the project.
The Financial Times reported that the proposed arrangement could have involved Novatek contributing technology and expertise in exchange for sanctions relief for Arctic LNG 2.
The negotiations reportedly extended beyond commercial discussions. According to the New York Times, cooperation involving Novatek was discussed in September between Russian leader Vladimir Putin and Trump envoys Steve Witkoff and Jared Kushner as part of broader talks aimed at ending Russia’s war against Ukraine.
Polar LNG rejected Riddle’s allegations, describing him as a disgruntled employee and maintaining that its operations complied with applicable laws. The company confirmed that it had sought US authorization to use Russian LNG equipment.
Earlier, Eric Trump moved forward with a luxury tower project in Georgia alongside developers allegedly linked to a sanctioned pro-Kremlin billionaire and a businessman previously investigated by the FBI over suspected ties to Russian organized crime.
Discuss this article:
-c439b7bd9030ecf9d5a4287dc361ba31.jpg "Photo of Katherina Popilnichenko")
