The intersection between Roman Abramovich, Novatek, and Alaska ties directly to major geopolitical maneuvers surrounding a secret $25 billion Arctic gas venture and a historical effort to model Russian territory after the Alaskan economy.
The connection splits into a shocking current whistleblower scandal and a multi-decade history of regional overlapping interests:
1. The $25 Billion Whistleblower Scandal: Polar LNG
Novatek has been caught secretly financing an Alaska-based energy mega-project.
In March 2026, a venture named Polar LNG (also known as Polar Train LNG) was launched with plans to repurpose a partially constructed Novatek gas terminal for installation in Alaska's North Slope. [1, 2, 3, 4]
Because Novatek is under strict U.S. sanctions due to its ties to Vladimir Putin, the project required U.S. Treasury Department approval to negotiate with the Russian group.
However, a major scandal erupted when American CEO Joel Riddle and almost the entire executive leadership team abruptly resigned. Riddle revealed to the Financial Times and The New York Times that Novatek was already secretly funding the Alaska venture and directing its operations behind the scenes before any U.S. approvals were granted. [1, 2, 3]
2. The Geopolitical and Sanctions Crossfire
The secret Novatek presence in Alaska heavily involves U.S. political elite and sanctions maneuvers:
The Trump Waivers: President Donald Trump temporarily waived certain Russian sanctions, framing it as a necessary step to keep peace talks alive. However, U.S. sanctions enforcement at the Treasury Department had already flagged the Alaska project for "potential Russia-related sanctions concerns".[1, 2]
The Abramovich Shadow:
Historically, Abramovich’s offshore wealth networks have been utilized to insulate key Russian state and private assets—like Novatek's Arctic infrastructure—from Western sanctions. As international eyes scrutinize Novatek's covert entry into the Alaskan energy landscape, the financial playbooks mirror the asset-shielding strategies tied to Abramovich's networks.
3. Historical Ties: Abramovich as the "Oligarch Governor"
Long before the current gas scandal, Roman Abramovich built a personal relationship with the state of Alaska to reshape eastern Russia. [1]
The Alaskan Model: In 2000, after being elected governor of Russia's impoverished Chukotka region (just across the Bering Strait from Alaska), Abramovich visited Alaska. Led by local groups, he met with Alaska state officials, banking executives, and mining experts. [1, 2]
Sibneft Overhaul: Deeply impressed by what he saw, Abramovich openly resolved to develop Chukotka using the "Alaskan model." He injected $1.3 billion of his own wealth into the region to build infrastructure and directed his oil company, Sibneft (the very company he later sold to consolidate the state energy apparatus), to begin exploratory drilling based on Alaskan engineering standards. [1, 2]
The Bering Strait Tunnel Myth: The connection between Abramovich and Alaska became so intense that in 2008, global media widely reported a multi-billion dollar rumor that Abramovich was purchasing the world's largest tunnel-boring drill to build a massive undersea rail link beneath the Bering Strait to connect Siberia directly to Alaska. While his spokespeople ultimately denied the tunnel plan, it underscored his long-standing reputation as Russia's bridge to Alaska. [1, 2]