The Financial Times reported that the developer of an Alaska LNG facility
received financing from Russian energy firm Novatek PJSC, which is subject to
U.S. sanctions. Former CEO Joel Riddle said Novatek funded the Polar Train LNG
joint venture and guided its operations before obtaining necessary U.S. Treasury
approvals; Riddle resigned last month and other executives have since left.
Polar LNG said Friday Riddle was "a disgruntled former employee" and has been
dismissed, adding that development activities "fully comply with applicable U.S.
law." The company said it has applied to the U.S. Treasury's Office of Foreign
Assets Control (OFAC) for a license to purchase an unfinished gravity-based
structure from Novatek, part of the LNG facility.
