Joel Riddle spent roughly six months as the public face of Polar LNG, an Alaska gas export startup. In interviews the FT and the NYT published Oct. 23 and 24, he said he walked away in September because Russia’s Novatek, not the investors he had been told about, was paying the bills and setting direction.
Where it stands: Polar LNG’s Oct. 23 statement says Riddle “was recently terminated from the company for cause” and that it is examining claims about him “that may result in litigation.” As of October 26, no suit had been reported, and no government agency had said it was looking at his allegations.
Each part of his story has been answered. Polar LNG calls him a “disgruntled former employee” and says its work complies with U.S. law, per Newsmax’s summary of the FT. Novatek says it signed a memorandum with Polar Train in April, while Riddle was still in charge, and denies that its role hinged on sanctions relief. The startup’s Abu Dhabi financier, Tech Wave, told the FT that Novatek owns none of it.
Who Joel Riddle is
When Polar LNG launched in March, its launch press release introduced Riddle as an industry veteran. It said he had led Tamboran Resources, a gas developer in Australia’s Beetaloo Basin, from 2013 to 2025, and that his career began at ExxonMobil before stints at Unocal and Murphy Oil.
In an April interview with Reuters, Riddle was the project’s chief salesman. He said the Russian-built equipment Polar LNG hoped to buy was “Arctic tested,” and he named Gentry Beach, a friend of Donald Trump Jr., as an investor.
That last point later flipped. Riddle told the FT that, as funding needs grew, he found Beach had not put money in and held no shareholder or director role, according to Business Standard. The NYT reported that Novatek said Beach had no part in its stake talks, and a Trump Jr. spokesman said the two men are no longer close. No source says any Trump family member holds a stake in Polar LNG. Our Gentry Beach profile covers his separate Alaska plans.
What Joel Riddle says he found
Riddle’s explanation to the FT is the heart of the dispute: “I resigned as chief executive of Polar LNG because I felt uncomfortable that the Russian company Novatek was financing and ultimately controlling the strategic direction of the company.”
He framed it as a matter of principle. “Building an LNG facility in Alaska is a very strategic project for the US and as a patriot I feel this needs to be developed using US technology and funded by US investors, not a Russian company,” he told the paper.
To the NYT he went further, offering his own legal judgment: “It’s not only unlawful, but it’s not in the U.S. interest.” That is his view. No regulator, prosecutor or court has reached that conclusion, and the company rejects it. The text messages and money figures both papers described are covered in our main report on the allegations.
Resigned, or fired?
The two sides tell different stories about the same September exit. Polar LNG’s line, repeated in its statement, is that Riddle was terminated for cause. The company has not said publicly what the cause was. It wrote that, “To preserve the integrity of that process, the company will not comment further.”
The NYT added a detail that cuts against the timeline in the firing account. According to Raw Story’s summary of the Times article, documents the paper obtained show Riddle resigned six days before Polar LNG sent him a termination letter. The Times did not, in the summaries reviewed, publish the letter itself.
The Baker Botts memos
Riddle sought advice from the law firm Baker Botts before leaving. The two newspapers describe the result with slightly different emphasis.
The NYT, as relayed by Raw Story, said memos attached to his resignation letter reported that Treasury Department sanctions enforcers had flagged “potential Russia-related sanctions concerns.” The FT version, as relayed by Newsmax, said the firm warned that U.S. agencies appeared to see the proposed participation of Norwegian businessman Bjorn Gundersen, a former Novatek employee, as raising such concerns.
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Neither account, as summarized, says any agency opened a case. A flagged concern is not a finding. Tech Wave told the FT that Gundersen invested personal and borrowed money in Polar LNG. Who Gundersen is and how the companies connect is set out in our Tech Wave ownership explainer.
The warning to Washington
Riddle said he and two other departing executives alerted the Trump administration to what they saw as Russian financing and asked officials to investigate. The NYT said the warning went to the Energy Department, which did not respond when the paper asked about it.
“I felt like I did the right thing to notify authorities at the appropriate time,” Riddle told the Times.
For context, the Treasury Department’s FinCEN whistleblower program covers tips about possible violations of the International Emergency Economic Powers Act, the main legal basis for Russia sanctions, and shares them with OFAC and the Justice Department. FinCEN says it will begin paying awards only after a pending regulation is finalized. Nothing in the coverage reviewed says whether Riddle contacted FinCEN or OFAC; his stated warning went to Energy. What could happen next is tracked in our piece on possible investigations.
His claims and the company’s, side by side
| Issue | Riddle says | Company or others say |
|---|---|---|
| Why he left | He resigned over Russian control | Polar LNG: fired for cause |
| Timing | NYT: resigned six days before letter | No dates given by company |
| Who funded it | Novatek, behind Tech Wave | Tech Wave: Novatek owns none of it |
| Novatek’s role | Financing and steering | Novatek: April MOU, minority stake bid |
| Legality | “not only unlawful” | Polar LNG: full compliance with U.S. law |
| Gentry Beach | Never invested | Novatek: Beach had no role in stake talks |
| Next steps | Urged officials to investigate | Polar LNG: possible litigation |
One further detail is on the record. Novatek says the April memorandum with Polar Train was signed while Riddle was chief executive, so a written arrangement with the Russian company existed during his tenure. Riddle’s stated objection, as he describes it, concerns who supplied the money and who set strategy, not the technology agreement itself.
Frequently Asked Questions
Who is Joel Riddle?
Joel Riddle is an American energy executive who was named president and CEO of Polar LNG when it launched in March 2026. He previously ran Australia’s Tamboran Resources for about twelve years and began his career at ExxonMobil. He left Polar LNG in September.
Did Joel Riddle resign or was he fired?
Both versions are on the record. Riddle says he resigned. Polar LNG says he was terminated for cause. The New York Times reported that documents it obtained show his resignation came six days before the company sent a termination letter.
What did Baker Botts say about Polar LNG?
The New York Times reported that Baker Botts memos, which Riddle attached when he resigned, said Treasury’s sanctions enforcers had raised potential Russia-related sanctions concerns. The Financial Times reported the concern centered on the proposed role of Bjorn Gundersen, a former Novatek employee.
Has Polar LNG sued Riddle?
In its October 23 statement, the company said that it is reviewing claims about Riddle that could lead to a lawsuit. No suit had surfaced in the coverage reviewed through October 26.
Who did Riddle warn in the government?
Riddle told the New York Times that he and two other departing executives warned Trump administration officials and urged an investigation. The Times said the warning went to the Energy Department, which did not respond to its questions.
Sources
- Former CEO: Russian Firm Backed Alaska Gas Venture — Newsmax (via Yahoo News), October 24, 2026
- Whistleblower CEO quits over hidden Russian cash behind gas deal in Trump peace talks: NYT — Raw Story, October 24, 2026
- Top executives quit $25 bn US gas project over alleged Russian control — Business Standard, October 25, 2026
- Polar LNG Announces Leadership Change and Outlines Vision for Alaska North Slope Development — Polar LNG (company statement), October 23, 2026
- Polar LNG Launches and Appoints Industry Veteran Joel Riddle as President and CEO — Polar LNG via PR Newswire, March 30, 2026
- Planned LNG plant in Alaska seeks equipment from sanctioned Russia firm — Reuters (via Eye on the Arctic), April 1, 2026
- Whistleblower Program — Financial Crimes Enforcement Network (U.S. Treasury), accessed October 26, 2026
This article is news reporting and analysis based on the public sources listed above, as they stood on the dates shown. Where officials, lawmakers or analysts disagree, including on whether an action is lawful, their positions are attributed to them; Donald Trump Class Action is not a court and nothing here is legal advice. Facts in a developing story can change.