US and Russia discussed Alaska gas project in exchange for sanctions relief — FT
Photo: Vladimir Putin and Donald Trump (Getty Images)
High-level representatives from the US and Russia discussed lifting sanctions against Russia's flagship Arctic LNG-2 project in exchange for Novatek's participation in a $25 billion US gas project in Alaska, according to the Financial Times.
Joel Riddle, former CEO of Polar Train LNG, stated that the Russian company Novatek had financed the Alaska gas terminal project and determined its strategic direction even before obtaining the necessary permits from US authorities.
According to him, he left the company in September due to concerns about violating sanctions. Nearly the entire management team, including the CFO, subsequently resigned.
The FT reviewed correspondence in which a top Novatek executive discussed project financing and expediting fund transfers.
According to the agency's sources, the project was part of negotiations between Washington and Moscow regarding potential business agreements amid attempts to end the war against Ukraine.
Discussions centered on Novatek's assistance in building the terminal in Alaska in exchange for lifting sanctions on Russia's Arctic LNG-2.
The project was launched with the participation of investor Gentry Beach, who is connected to the Trump family. Following Riddle's departure, Tim Talkington, the former head of Goldman Sachs' Russian division, became acting CEO.
Earlier, US President Donald Trump and Vladimir Putin reached an agreement on the supply of Russian diesel fuel to the global market, signaling a partial lifting of sanctions against Russia.
