Polar Train LNG Leadership Exits as Russian Funding Claims Emerge

Nearly the entire executive team left Polar Train LNG this week. The departure follows serious allegations that Russia’s Novatek secretly paid for and ran the US$25 billion gas project in northern Alaska.

The Financial Times reported these findings. The company planned to move a partially built Novatek terminal to Alaska. The project launched in March of this year. It aims to create a new export hub in the region.

Joel Riddle served as the chief executive. He told the newspaper that he worried about violations of US sanctions. Riddle resigned in September. He felt uneasy that Novatek was funding the venture. He said the Russian firm was also controlling the strategic direction of the company before the required approvals were in place.

Dan Chandra was the chief financial officer. He also left the company. Other senior managers departed after Riddle’s exit. Riddle said he initially believed the money came from Gentry Beach and Tech Wave. He thought Gentry Beach had ties to Donald Trump’s family. Tech Wave is based in Abu Dhabi.

Riddle later learned that Gentry Beach was not actually an investor. The company was neither a shareholder nor an executive in the project. This discovery added to his concerns about the true source of the funding.

The Financial Times reviewed WhatsApp messages from the case. Denis Solovyov is a board member at Novatek. The messages showed him discussing financing for the project. He also pressed for a faster transfer of funds to Polar Train LNG. The company asked the US Treasury Department for permission to negotiate with Novatek. Approval has not been granted yet.

Polar LNG rejected the allegations. The company said Riddle was dismissed rather than resigning. It called him a disgruntled employee. Polar LNG insisted the project follows US law. Novatek stated it agreed to let Tech Wave use its technology in Alaska. The two firms signed a memorandum in April. Riddle was still leading the company at that time.

Officials say the project came up in talks between Washington and Moscow. These discussions focused on business deals that could help end Russia’s war against Ukraine. Reports suggest a possible swap was under consideration. Novatek would offer its expertise for building the Alaska terminal. In return, sanctions on Russia’s Arctic LNG 2 project might be lifted.

The backstory dates back to February 2026. Ekonomichna Pravda reported that Gentry Beach had announced an agreement with Novatek. Gentry Beach is a university friend of Donald Trump Jr. On 9 October, reports indicated that Russia was seeking sanctions relief. This was part of negotiations over a possible energy ceasefire with Ukraine.

The stakes are high for working families and civil rights. A major energy project could face legal battles. The public health and environment sectors are watching closely. The outcome will shape future energy deals in the Arctic region. Clear facts remain central to this unfolding story.