Polar LNG president: “There’s an incredible opportunity” for U.S. energy to fill global supply gap

Joel Riddle, president of Polar LNG, said a recent disruption in global liquefied natural gas supply has created an opportunity for U.S. energy producers to expand output and support allies abroad.

“With that… attack on the facilities in Qatar… that took 20% of the world’s LNG supply off the market,” Riddle said. “It’s gonna take years to get that supply back on the market.”

Riddle said the disruption has opened a window for U.S.-based projects to accelerate development.

“There’s an incredible opportunity for us to use this window… for the U.S. to be… the hero that’s going to move forward with new LNG,” he said.

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He said projects like Polar LNG could help address global energy shortages while advancing U.S. policy goals. “There’s 20% less LNG supply on the market today than it was three weeks ago,” Riddle said, adding that expanding exports would support “energy security for the U.S. allies in Asia and in Europe.”

Polar LNG is planning a large-scale project on Alaska’s North Slope, with an initial phase targeting 7 million tons of production annually. Riddle said the project benefits from access to pre-built equipment originally intended for a Russian Arctic development. “It’s provided an opportunity for Polar LNG to purchase that equipment at a discount,” he said.

Riddle said the project is designed to move quickly, with a goal of beginning production by the end of the decade. “Our target is to get that online producing LNG by 2029, 2030,” he said.

He also pointed to long-term development potential in Alaska, describing the project as a catalyst for broader economic growth. “It always takes kind of a trailblazer to start and create the first… development,” Riddle said. “What we’re looking to do with Polar LNG’s project is to be that first.”

Riddle said his goal is to help establish the region as a major energy hub. “I wanna see this development take off where this becomes the next hotspot… not just in the U.S. but in the world,” he said.

Riddle has worked in the oil and gas industry for approximately three decades, including roles with major energy companies and entrepreneurial ventures focused on large-scale resource development.