Media: Russia's Novatek funds Alaska LNG project and effectively sets its strategy
Russian company Novatek is financing a gas terminal project in Alaska run by US firm Polar Train LNG and effectively dictates its strategy, the Financial Times and The New York Times report, citing the US firm's former chief executive.
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Russian gas company Novatek is financing the construction of a gas terminal in Alaska that is being carried out by the US company Polar Train LNG. According to the Financial Times and The New York Times, the Russian firm also effectively determines the American company's strategy. LNG stands for liquefied natural gas, which is transported in special vessels.
Who is the source
The newspapers base their reports on Joel Ridley, the former chief executive of Polar Train LNG. According to him, the project's funding comes from Novatek, and that company influences decisions on how the project moves forward.
Why it matters
The report points to the role of a Russian company in a project that is formally led by a US firm and is being built in Alaska. The source gives no further details on the project's scale, cost or timeline, and does not say whether any restrictions apply to it.
