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NYT: Kremlin secretly financed stake in Alaska gas project

newsOct 24, 202649837

The New York Times reports that Russia’s energy giant Novatek secretly financed a U.S. company tied to a major Alaska liquefied natural gas project, moving to acquire a minority shareholder position in the Polar LNG venture. Interviews and documents show Novatek provided funding despite being subject to partial U.S. sanctions, and at least three Polar LNG executives, including former chief executive Mr. Riddle, resigned after learning the true source of some project funds. Those departures prompted notifications to Trump administration officials about concerns over the covert Russian financing. The Financial Times separately reported that Novatek effectively held reins of the Polar Train LNG scheme without Washington’s approval. The Times says the arrangement has surfaced in talks aimed at ending the war in Ukraine and quotes critics who argue that allowing Russian control of Arctic gas commercialization would be unlawful and not in U.S. interests. Investigations and political scrutiny are likely to follow as lawmakers and regulators assess whether sanctions or other measures were circumvented.

Scott Horton
@robertscotthorton.bsky.social

US executives quit as Trump turns control over massive Alaska energy project to Putin underlings. The former chief executive of a $25bn US gas export venture says Russian energy giant Novatek was given control of the project by Trump, triggering a mass resignation of company leadership

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