American investor urges Germany to purchase Nord Stream 2 pipeline under US ownership

American investor Stephen P. Lynch met top German economic officials last month to propose a striking plan: buy out the damaged Nord Stream 2 pipeline and eventually restart the flow of Russian gas — under US control.

The meeting, which took place on May 6 in Berlin at what Lynch says was the German Economy Ministry’s request, focused on his offer to lead a takeover of the $11 billion undersea pipeline, owned by Russian energy giant Gazprom and long criticised as a geopolitical liability. Lynch had already pitched the idea to the Trump administration, hoping that Washington would support American control over a key piece of energy infrastructure, Caliber.Az cites the article by The New York Times. 

German officials were skeptical. According to Lynch, they questioned how he expected to overcome widespread political opposition and persuade Germany to once again import Russian gas, especially through a pipeline partially sabotaged in 2022.

“That was not his job,” Lynch recalled telling them, expressing confidence that “the Germans would persuade themselves eventually of the benefits of buying cheap Russian gas again.”

German Chancellor Friedrich Merz plans to reiterate Berlin’s firm opposition to Nord Stream 2 when he meets President Trump in Washington on June 5, his spokesman said.

Europe has been seeking to eliminate its dependence on Russian energy since the 2022 invasion of Ukraine, which prompted the US President at the time Joseph R. Biden Jr. to declare, “there will be no longer a Nord Stream 2.” He subsequently sanctioned the pipeline’s owner, while Germany blocked its operation.

Yet, with the pipeline undergoing debt restructuring in a Swiss court, Lynch sees an opportunity. He says that if granted a license to negotiate, he would bring in additional investors and attempt to buy Nord Stream 2 at a steep discount. He insists that no gas would flow “until there is peace” in Ukraine and that any funds due to Russia would be held in escrow until the conflict ends.

He argues that US ownership of the pipeline would provide oversight and allow Europe to benefit from Russian energy without engaging directly with sanctioned Russian entities.

“When they decide that they need gas from Russia — which they will — we’ll be there,” Lynch said in a recent interview in London. “Eventually the European leadership will change their posture.”

By Sabina Mammadli