EL7.AI
GeopoliticsMedium•24 October 2026•
4 min read

$25 Billion Alaska Gas Project Faces Allegations of Russian Funding and Control Without Approval

Key Facts

1The Polar Train LNG project is described as being worth $25 billion.
2The former CEO accused Novatek of financing and controlling the project without U.S. approval.
3Glenfarne announced commercial agreements covering 13 million tonnes a year against a target of 16 million tonnes a year.
4The plan targets the start of LNG exports in 2031, following a targeted 2027 decision on the export facility.

Joel Riddle, the former CEO of the Polar Train LNG project, accused Russia’s Novatek of financing the project and controlling its strategic direction without U.S. approval, according to coverage published on October 24. The source describes it as a strategic $25 billion gas project in Alaska and said U.S. executives left the project amid the allegations. Riddle attributed his resignation to concerns about Novatek’s role in financing and directing the project. The available coverage does not establish that U.S. authorities opened a formal investigation, nor does it specify the reasons for the other executives’ departures. The allegations put funding and governance at the center of questions surrounding a major U.S. energy project.

The allegations concern the Polar Train project, while official Alaska documents describe another project called Alaska LNG, which includes a gas processing facility in the north and a pipeline to transport gas to an export terminal in Cook Inlet. Alaska’s governor says the project’s pipeline is 807 miles long, while the Department of Natural Resources’ page shows a proposed 42-inch route from a facility near Deadhorse to a liquefaction facility near Nikiski. Glenfarne, the project’s developer, says it is working on two financially independent phases. Phase 1 includes a 739-mile pipeline, according to the company’s report submitted to the U.S. Department of Energy. The differences in names and details mean the Polar Train project at the center of the allegations should not be confused with Alaska LNG, the project described in official documents.

The allegations come as the official project faces financing and commercial milestones. In a semiannual report submitted by Alaska LNG to the Department of Energy on April 1, 2026, the company said it had not yet signed long-term contracts for LNG exports or gas supply. Glenfarne then announced on September 30 that commercial agreements covered 13 million tonnes a year out of the 16 million tonnes it is targeting to support a final investment decision. In May, Glenfarne and ConocoPhillips said a 30-year advance gas sales agreement provided sufficient volumes to support a final investment decision for Phase 1 and meet Alaska’s energy needs. Glenfarne also announced in February a letter of intent with TotalEnergies to buy 2 million tonnes a year, with the agreement remaining preliminary, according to the developer’s statement.

Glenfarne said a South Korean investment marks a financing milestone that helps move the project toward a final investment decision and construction, and that the investment structure and remaining steps are still being finalized with the U.S. and South Korean governments. On permitting, the Federal Permitting Improvement Steering Council announced in December 2025 that federal approvals were complete, after the National Oceanic and Atmospheric Administration renewed the final permit on December 10. The council said this completed the 21st and final federal action. However, completion of federal permits does not end all procedures required on state land. On October 23, Alaska published a notice of analysis, proposed decision and hearings concerning the conversion of conditional right-of-way leases, and the state says those leases must be converted before construction can begin on its land.

A public hearing on the conversion of right-of-way leases is scheduled for November 23 at 6 p.m., according to the State of Alaska’s schedule. The company’s report to the Department of Energy targets mechanical completion of the Phase 1 pipeline in 2028 and the start of gas supply in 2029. The project plan targets a final investment decision for the pipeline in 2026, followed by a decision on the export facility in 2027, with LNG exports to begin in 2031, according to Reuters. That represents a delay from the previous target of a final investment decision for the pipeline in late 2025. Glenfarne and Alaska labor unions estimate the project will create 12,000 construction jobs and up to 1,000 long-term operating jobs.