-- Joel Riddle's Polar LNG wants to move faster and cheaper than any Arctic energy project before it, and the timing couldn't be more deliberate.
When Polar LNG launched on March 30, 2026, it entered a race that has humbled bigger players. Alaska has been promising large-scale LNG exports for decades. Getting gas off the North Slope and to Asian markets has proven expensive, politically complicated, and slow.
Polar LNG's pitch is that a different design can change that math.
Most Alaska LNG proposals depend on an 800-mile pipeline running from Prudhoe Bay to a liquefaction terminal in southern Alaska, a design underpinning the state-backed Alaska LNG project, currently estimated at roughly $44 billion with a timeline stretching past 2030.
Polar LNG is proposing a nearshore, gravity-based liquefaction structure built directly at Prudhoe Bay, eliminating the pipeline entirely. The company estimates its facility at $8 to $9 billion, targeting 7 million tonnes per annum with expansion potential up to 21 mtpa, and says it can reach its first LNG by 2029 or 2030. Those figures reflect initial estimates, and final investment decisions will be made as the project moves into its next phases.
Who's Behind It
Joel Riddle, Polar LNG's president and CEO, spent over a decade as CEO of Tamboran Resources developing unconventional gas in Australia's Beetaloo Basin before turning his focus to the American Arctic. He's positioning the project as complementary, not competitive with existing Alaska initiatives.
"Alaska's energy future is not about choosing one project over another," Riddle says. "Both initiatives share the same goals: providing energy security for Americans and creating economic opportunity for Alaska."
Arctic construction involves unique risks, and cost estimates will be further developed as the project progresses. Permitting on Alaska's North Slope involves multiple federal agencies, environmental review, and Indigenous land considerations; these processes will be important as with previous North Slope projects.
Polar LNG is engaged in active discussions with potential financing partners, offtakers, and strategic investors, and they will announce those commitments at the appropriate stage of the process. Converting a cost comparison into a funded, permitted, operational facility within three years would be an ambitious target, yet achievable given the Administration’s push to accelerate U.S. LNG projects.
What Comes Next
Global LNG demand has grown steadily, driven by Asian buyers diversifying away from pipeline gas. Projects that can demonstrate credible timelines and cost discipline have attracted greater attention from institutional investors and long-term buyers.
For now, Polar LNG's primary asset is its thesis that building closer to the gas source, without a pipeline, can move faster. Regulatory and lender alignment will be shaped as the project moves through its established review process, with each stage providing additional clarity and opportunities to demonstrate the project’s strengths, risk‑management approach, and alignment with national priorities.
About the company: Polar LNG is advancing a nearshore LNG export terminal at Prudhoe Bay to bring Alaska’s North Slope gas resources to market faster and more efficiently. By combining a modular $8–9 billion infrastructure design with icebreaker-supported, year-round navigation, the 7 MTPA project reduces development timelines and minimizes land disturbance. Polar LNG is committed to unlocking sustained revenue for Alaska while reinforcing U.S. energy security and Arctic leadership.
Contact Info:
Name: Juddie Tojah
Email: Send Email
Organization: Polar Train LNG LLC
Address: Washington, DC/Anchorage, AK
Phone: +1 (202) 407-6803
Website: http://www.polarlng.com
Release ID: 89193459
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