Alaska LNG export terminal got funding from Russia’s sanctioned Novatek before US nod-FT report
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓A developer of an Alaska LNG facility got funding from Russia’s sanctioned Novatek before US approval.
- ✓Novatek offered money and directed operations, the Financial Times reported.
- ✓Polar LNG said, “Development activities are being pursued in full compliance with applicable US laws.” The company aims to start gas deliveries by 2030.
Story at a Glance
- Category
- BUSINESS
- Reported By
- ThePrint
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
A developer of a liquefied natural gas facility in Alaska received financing from Russia-based Novatek PJSC, an energy giant that is subject to US sanctions, the Financial Times reported.
Novatek offered funding to Polar Train LNG’s venture and directed its operations before required approvals were secured from the US Treasury, the newspaper cited the developer’s ex-chief executive officer Joel Riddle as saying in an interview. Riddle resigned last month, followed by other executives, according to the FT and a separate interview with the New York Times.
Riddle is a “disgruntled former employee” who had been terminated, Polar LNG said Friday in a statement. “Development activities are being pursued in full compliance with applicable US laws,” according to the company.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
ThePrint
Read the full, original unfiltered story directly on the publisher's portal.