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Some spoilers for Galciv2
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I have thought this before but didn't truly think so but was just reading the timeline and the evidence is interesting.
Elemental has two species; Dragons and Humans
Altaria has two species; Altarians who Galciv2 states have DNA almost identical to humans and the Drath who descended from dragon like creatures.
Elemental has magic, ' It's power shines as a beacon across the universe' while Altaria has an abundance of 'dark cosmic energy' which is repeatedly referred to in Galciv2 as magic.
Draginol (the character) brings Altaria into conflict 'including the last Arnor and last Dread Lords left on the planet.'
In Elemental there where immortal beings called Titans who were at war with each other. Perhaps the Arnor and Dread Lords?
Tandis helps the coalition in Galciv create the Terror Star.
In the lore of Elemental - Of the Cataclism; 'A league of mortal men led by Amarian III and supported by Tandis ... are able to tip the balance preventing Curgen from opening a portal to the Titan home world'.
What does everyone else think. I'm sure i've noticed other clues but can't think of them right now.