Polar Train LNG Management Vacates Amid Novatek Control Claims

The management team of Polar Train LNG has effectively disbanded following allegations that Russia's Novatek secretly financed and directed the $25 billion gas export project in northern Alaska. A Financial Times report details how the company's former chief executive, Joel Riddle, raised concerns about potential violations of US sanctions before departing. The exit of the leadership team leaves the venture without its primary operational leaders.

The project was launched in March 2026 with the goal of relocating a partially built Novatek terminal to Alaska. Riddle stated that he initially believed funding came from Gentry Beach, an investor with ties to Donald Trump's family, and Tech Wave, an Abu Dhabi-based firm. He later discovered that Beach had not invested in the project and held no shares or executive titles. Riddle found that Novatek was already funding the venture and directing its operations before the US Treasury Department granted permission to negotiate with the Russian group.

Riddle resigned in September 2026. Chief Financial Officer Dan Chandra and other executives followed him out of the company. 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 in which Novatek board member Denis Solovyov discussed financing the project and urged for faster fund transfers.

Polar LNG rejected the allegations, stating that Riddle had been dismissed and describing him as a "disgruntled employee." The company insisted the project is being developed in accordance with US law. Novatek responded that it agreed to let Tech Wave use its technology in Alaska. The two parties signed a memorandum in April 2026 while Riddle still led the company.

The dispute has gained attention because the project surfaced in business talks between Washington and Moscow aimed at ending Russia's war against Ukraine. Reports indicated that a possible swap was under discussion, where Novatek would provide expertise to build the Alaska terminal in exchange for the lifting of sanctions on Russia's Arctic LNG 2 project. These discussions followed earlier reports from February 2026 that Gentry Beach had announced an agreement with Novatek on an Alaskan gas venture.

On October 9, 2026, reports indicated Russia was seeking sanctions relief as part of negotiations for a potential energy ceasefire with Ukraine. The current leadership vacuum at Polar Train LNG leaves the project's immediate next steps unresolved as the company navigates the funding dispute.