The head of the American LNG project, Polar LNG, Joel Riedel and almost the entire management team left the company amid controversy over the possible hidden participation of Russia's Novatek. The cost of the gas export project is estimated at 25 billion dollars. Riedel claims that the Russian company financed the development and was actually successful until it received the necessary approvals from the US Treasury Department. If these statements were confirmed, the circumstances of the parties' interaction could raise questions about compliance with American sanctions. So far, we are talking about the accusations of the former head, and not about an established violation. Polar LNG rejects the claims, calls Riedel a "failed employee" and insists on the legality of his activity. The company announced an application for a license from the American regulator to purchase an unfinished marine structure from Novatech. Therefore, the dispute affected both the project management structure and the legality of the Russian connections in the preparation phase for implementation. ECONOMICS.

The head of the American LNG project, Polar LNG, Joel Riedel and almost the entire management team left the company amid controversy over the possible hidden participation of Russia's Novatek. The cost of the gas export project is estimated at 25 billion dollars. Riedel claims that the Russian company financed the development and was actually successful until it received the necessary approvals from the US Treasury Department. If these statements were confirmed, the circumstances of the parties' interaction could raise questions about compliance with American sanctions. So far, we are talking about the accusations of the former head, and not about an established violation. Polar LNG rejects the claims, calls Riedel a "failed employee" and insists on the legality of his activity. The company announced an application for a license from the American regulator to purchase an unfinished marine structure from Novatech. Therefore, the dispute affected both the project management structure and the legality of the Russian connections in the preparation phase for implementation. ECONOMICS.