Polar LNG announced on Monday the appointment of Riddle.
Before joining Polar LNG, Riddle served as managing director and CEO of Australia’s Tamboran Resources for approximately twelve years (2013–2025).
During his tenure, he led the company’s strategy to develop unconventional natural gas resources in Australia’s Beetaloo Basin, the company said.
According to Polar LNG, the project will have a capacity of approximately 7 mtpa and will cost $8-$9 billoin.
The company said that it will source natural gas from existing infrastructure at Prudhoe Bay and transport it via a short pipeline to its nearshore facility.
There, a modular gravity-based structure processes and liquefies the gas directly at the source.
Polar LNG said the LNG supplies are then loaded onto specialized ice-class carriers for year-round export.
According to several media reports, Polar LNG is seeking permission from the US government to buy hardware originally destined for Novatek’s Arctic 2 LNG terminal in Russia, which was sanctioned by the US administration.
In 2024, Novatek delivered the second, out of three, gravity-based structure platform from its yard near Murmansk to the site of the Arctic LNG 2 project located on the Gydan peninsula
However, Polar LNG does not mention this equipment in the statement or on its website.
The company said that its project offers “one of the shortest LNG shipping routes from North America to key Asian markets, approximately 3,600 miles to Japan compared to over 10,000 miles from the U.S. Gulf Coast.”
Two LNG projects
Polar LNG also said that its project is designed to complement Alaska’s broader natural gas development efforts, including the Glenfarne-led Alaska LNG pipeline project.
The company expects to launch LNG production in 2029-2030, its website shows.
“Alaska’s North Slope holds one of the most significant undeveloped natural gas resources in the world,” said Riddle.
“Alaska’s energy future is not about choosing one project over another,” Riddle said.
“Both initiatives share the same goals: providing energy security for Americans and creating economic opportunity for Alaska. We believe in an abundance mindset when it comes to American energy development,” he said.
