Ukraine isn't the only topic: Media uncover hidden agenda of US-Russia talks
Photo: Jared Kushner and Steve Witkoff (Getty Images)
Special envoys for US President Donald Trump and Russian President Vladimir Putin discussed a joint business project as part of peace negotiations aimed at ending the war in Ukraine, The New York Times reports.
According to information obtained by the outlet from its sources, Russian gas company Novatek, which is partially subject to US sanctions, may have secretly financed the American startup Polar LNG.
The company plans to extract and export liquefied natural gas from Alaska. This was the project discussed by US and Russian negotiators.
Moreover, Putin personally raised the issue during meetings with Trump's special envoys Steve Witkoff and Jared Kushner. However, there is no evidence that the US representatives knew about Polar LNG's possible ties to Novatek.
Former Polar LNG CEO Joel Riddle, who left the position in September, said he initially thought the startup was funded by a company from the United Arab Emirates. However, he later learned of the Russian company's alleged direct involvement in funding the project.
Legal memoranda prepared by the law firm Baker Botts also pointed to risks, highlighting US officials' concerns over potential sanctions violations.
"It’s not only unlawful, but it’s not in the US interest to have Russian technology controlling the commercialization of Arctic gas in the North Slope," Riddle said.
According to The New York Times, representatives of Polar LNG and its parent company, Tech Wave Industrial Projects Management, met with Novatek executives in Abu Dhabi in late August. According to reports obtained by the outlet, the Russian side discussed the possibility of allocating up to $15 million to the American project.
In early September, Novatek Deputy CEO Denis Solovyov wrote to Riddle that all the necessary decisions had been made at the meeting in Abu Dhabi. He also said the first $5 million was supposed to arrive that same day.
Shortly afterward, Riddle and two other senior Polar LNG executives left the company. According to the former CEO, they urged the US administration to investigate reports of possible Russian financing. Polar LNG described Riddle as a “disgruntled former employee” and said it was investigating the allegations he had made. Novatek, for its part, said it intended to become a minority shareholder in the project.
The plan involves installing a large offshore platform off the coast of Alaska to liquefy natural gas produced as a byproduct of oil extraction. Local companies currently reinject most of this gas underground because they lack sufficient capacity to transport it.
However, the project would require numerous permits, and possible ties to Novatek complicate matters because of existing sanctions. Other obstacles include technical challenges, environmental risks, and competition from a much larger pipeline construction project estimated to cost $50 billion.
Former US diplomat Geoffrey Pyatt sharply criticized the initiative. In his view, it poses risks to the environment, the economy, and US geopolitical interests. He also warned that such cooperation could create the impression that Vladimir Putin would be able to avoid the consequences of his actions.
Earlier, it was reported where the next round of peace talks between Ukraine, the US, and Russia aimed at ending the war could take place.
It was also reported that Trump wants Zelenskyy and Putin to sign a peace agreement at the G20 summit in Miami.
