Texas investor Gentry Beach, who has long-standing ties to the family of the US President, has reached an agreement with the Russian company Novatek on a joint natural gas development in northern Alaska. The parties plan to use Russian fuel liquefaction technologies. This could be the first notable deal between American and Russian businesses since the introduction of tough sanctions.
Beach has known Donald Trump Jr. since his college days. The investor himself claims that his motives are purely commercial and have nothing to do with politics. However, experts doubt that such a project would have been possible without a trusting relationship with the entourage of the current head of the White House.
Negotiations with Novatek management took place in Dubai and European countries. The head of the company, Leonid Mikhelson, is under British and Canadian sanctions, but not under American ones. The company itself was subject to only partial US restrictions, which makes it possible to legally justify cooperation.
According to the plan, they plan to use floating plant technology in Alaska on gas liquefaction. Similar capacities are already being built at shipyards in the Murmansk region. The fuel will be transported on South Korean ice-class gas carriers. Beach states that Moscow and Washington are aware of the project at a high level.
Trump himself has repeatedly spoken about the great prospects for interaction with Russia. However, most American corporations remain cautious for now. Companies that left Russia in 2022 are in no hurry to return due to political risks and uncertainty. Still, Ivan Grek of George Washington University calls Beach a pioneer. According to him, manufacturers of medicines, medical equipment and consumer goods are already showing interest in returning to the Russian market.
The implementation of the deal is fraught with serious difficulties. The launch will require the participation of large energy companies that will provide the project with raw materials. In addition, there are plans by the US administration to build a gas pipeline through Alaska. Beach believes that his project will not be a hindrance, but rather will complement this initiative.
Novatek confirmed that negotiations are indeed underway. The company noted that the idea has been discussed for many years, but its implementation depends on the position of the authorities of both countries.
Source: The New York Times
Image: Reuters
