The German government does not intend to restart the Nord Stream 1 gas pipeline, used to transport Russian gas, or to launch Nord Stream 2, said Deputy Government Spokesperson Sebastian Hille. This statement followed reports that the pipeline operator’s debt, Nord Stream 2 AG (a subsidiary of the Russian Gazprom), was said to be repaid by American investor Stephen Lynch. He is interested in purchasing and repairing both Nord Stream pipeline networks and launching them under a US license.
Lynch has communicated his plans to officials at the German Ministry of Economics and has filed an application with the US Office of Foreign Assets Control (OFAC) to lift sanctions on Nord Stream 2. The investor argues that launching gas pipelines under an American license would “de-Russify” the pipelines and “ensure American influence on the European energy infrastructure.”
Lynch has deep business ties in Russia, having spent 20 years there and been involved in the acquisition of assets from Russian companies, including Sberbank and Yukos.
Previously, German Chancellor Friedrich Merz and the European Commission rejected the possibility of launching the gas pipelines.