Alaska gas project leaders quit over Russian money

The management team of Polar Train LNG has largely dissolved following a dispute over hidden Russian financing. The Financial Times reported that almost every executive left the company, which is building a gas export terminal in northern Alaska.

Joel Riddle, the former chief executive, told the newspaper he resigned because he was uncomfortable with the role Russia's Novatek played in the venture. Riddle said he discovered that Novatek was funding the project and directing its strategic direction before the US Treasury Department granted the necessary permission to negotiate with the Russian group.

The project launched in March with a plan to relocate a partially built Novatek terminal to Alaska. Riddle initially believed the money came from Gentry Beach, an investor with ties to Donald Trump's family, and Tech Wave, an Abu Dhabi based company. He later learned that Beach was not a shareholder or executive and had not actually invested in the project.

Riddle stepped down in September. Dan Chandra, the chief financial officer, and other senior staff departed shortly after. In a statement, Riddle said, "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."

The Financial Times also reviewed WhatsApp messages where Denis Solovyov, a Novatek board member, discussed financing the project and urged for a faster transfer of funds. Polar LNG rejected the claims, stating that Riddle was dismissed and labeling him a "disgruntled employee." The company insisted the project follows US law. Novatek said it agreed to let Tech Wave use its technology and signed a memorandum with Polar Train in April while Riddle was still in charge.

Sources who spoke to the newspaper said the project appeared in business talks between Washington and Moscow. These discussions explored a swap where Novatek would provide expertise for the Alaska terminal in exchange for lifting sanctions on Russia's Arctic LNG 2 project.

In February 2026, Ekonomichna Pravda reported that Gentry Beach, a university friend of Donald Trump Jr, had announced an agreement with Novatek for the Alaska gas project. On October 9, reports indicated Russia was seeking sanctions relief as part of negotiations for an energy ceasefire with Ukraine.