A developer behind a liquefied natural gas (LNG) project in Alaska has reportedly secured funding from Novatek PJSC, a Russian energy company currently under US sanctions. According to the Financial Times, Novatek provided financing to Polar Train LNG and played a role in directing its operations before obtaining necessary approvals from the US Treasury.
The revelation comes from Joel Riddle, the former chief executive officer of Polar Train LNG, who spoke in an interview cited by the FT. Riddle resigned last month, followed by other executives, though the reasons for their departures were not detailed in the report.
The situation raises questions about compliance with US sanctions, as Novatek is subject to restrictions that typically prohibit such financial dealings. The Financial Times and the New York Times both reported on the executive departures, though further details on the Treasury's response or the status of the project remain unclear.