WASHINGTON, March 30 (Reuters) - The head of Polar LNG,

a company that plans to build a liquefied natural gas plant on

Alaska's North Slope, said his company is hoping to buy

discounted equipment from a Russian project on which Washington

has imposed sanctions.

Polar LNG launched on Monday. Joel Riddle, its president and

CEO, in an interview said the company wants to make a final

investment decision on its plant in mid-2027 and start producing

LNG in 2029 or 2030.

* Polar LNG is hoping to get approval from the U.S. Office

of Foreign Assets Control to buy the equipment, including a

partially built liquefaction plant, from Arctic LNG 2. The

administrations of former President Joe Biden and President

Donald Trump have both imposed sanctions on the project. The

U.S. Treasury Department had no comment. Novatek,

which owns about 60% of Arctic LNG 2, said it was aware of Polar

LNG's interest in its production technology. "Working-level

discussions on possible engagement options are currently

underway," Novatek said.

* The first phase of the project will take $8 billion to $9

billion in investments to produce 7 million tons a year of the

fuel that could be sold to Japan, South Korea and other

countries. The plant could be expanded in one or two more phases

that would require similar investments.

* Gentry Beach, a friend of Donald Trump Jr, is one investor

in the project, Riddle said. Beach did not immediately respond

to a request for comment.

* Polar LNG wants to finance more than half of the project

with U.S. capital, but is open to investments from companies in

Japan and other countries.

* The project would collaborate with another project called

Alaska LNG that the Trump administration is hoping will be built

in coming years.

* The North Slope is subject to severe weather and impacts

from climate change that have driven some energy companies from

the region. Riddle said the equipment the company seeks to buy

is Arctic tested. The company also plans to buy six icebreakers.