Both the US and Russia are said to be very interested in reaching an agreement so that gas can be transported via the Nord Stream gas pipeline.
Recently, Russian Foreign Minister Sergei Lavrov confirmed that discussions with the US include the Nord Stream issue.
Many news reports said that US investors are interested in buying Nord Stream 2 AG - a Swiss-based subsidiary of Russian energy giant Gazprom, owner of the Nord Stream 2 pipeline. In January this year, Nord Stream 2 AG's bankruptcy proceedings were extended to May.
Chris Weafer, an investment adviser who has worked in Russia for more than 25 years, told Germany's DW that there are serious discussions about the possibility of the US acquiring Nord Stream 2 AG.
There are proposals from US parties to buy back this infrastructure, so that they can act as an intermediary between the gas source (Gazprom) and the gas buyers (German energy companies), he said.
However, expert Ben Hilgenstock from the Kiev Economic School said that buying and selling European energy is not a problem for the US or Russia. Any agreement between Russia and the US regarding Nord Stream or Nord Stream 2 is completely meaningless. The decision is up to Europe, more specifically each country, on whether to buy Russian gas via Nord Stream and Nord Stream 2 or not," he shared.
Last month, some politicians in Germany's Christian Democratic Union (CDU) welcomed the idea of repairing both Nord Stream and Nord Stream 2.
Meanwhile, Wolfgang Große Entrup, managing director of the German Chemical Industry Association (VCI), told DW that its members welcomed the measures to reduce energy prices but also stressed the importance of having reliable partners.
The supply of gas via Nord Stream was unilaterally suspended by Russia in August 2022. With great efforts, we have ensured security of supply without the need for Russian oil and gas. We should not return to the old routine that was considered comfortable, and should avoid over-reliance on any individual country in the future," he said.
However, political opposition to the restoration of Russian gas supplies remains strong in Europe. The European Commission has recently reiterated its stance on Nord Stream 2. Nord Stream 2 is not a project for the common good, it does not help diversify the EUs energy sources, the European Commission spokesperson said on March 3.
The EU has pledged to completely end the use of Russian fossil fuels by 2027, and the European Commission is expected to announce a detailed strategy and roadmap for how to implement the pledge on May 6. In that context, supporting the restoration of Nord Stream would be unreasonable.
Even if some sectors of the German and European political world support the restoration of one or both Nord Stream pipelines, multiple technical hurdles still exist. Before the conflict in Ukraine broke out, Nord Stream transported gas to Germany while Nord Stream 2 was completed in September 2021 but has never been put into operation because it has not been licensed for operation by Germany.
Experts say the new German government will find it difficult to issue the above license. In addition, after the sabotage in September 2022, to put Nord Stream into operation, repairs were required at a very cost.
