American investor Stephen Lynch has just submitted to the German government a plan to buy the Nord Stream 2 gas pipeline, the pipeline connecting Russia and Germany.
The businessman's idea was to reconnect gas supplies from Russia to Germany and keep the pipeline under US control.
Despite Lynch's confidence, German officials expressed skepticism at a meeting in Berlin, wondering how he could overcome political opposition and convince Germany to continue importing Russian gas, especially when the pipeline was partially damaged in 2022, and Europe's current policy is to wean itself off Russian energy tankers following Russia's campaign in Ukraine.
American businessman Lynch believes that the ultimate economic benefits will change Germany's stance on the US ownership of the Baltic Sea gas pipeline connecting Russia and Germany.
Investor Lynch believes that Europe will have to accept increased gas imports from Russia and allowing an American company to own Nord Stream 2 will help the West better control Russia's gas sales, while helping Europe avoid direct transactions with sanctioned Russian organizations and individuals.
The $11 billion Nord Stream 2 pipeline, owned by Russian state-owned energy giant Gazprom and funded by many major European energy companies, has been reported. The operator of Nord Stream 2 - Nord Stream 2 AG - is in the process of restructuring debt in a Swiss court.
Lynch said that if he is granted a license to negotiate a buyback, he will mobilize other investors and expect to buy at a large discount. He also affirmed that all money for the Russian side will be held in a deposit account until the end of the conflict in Ukraine.
American investor Stephen Lynch is an investment banking expert specializing in handling assets in difficulty and has a lot of experience working in Russia. Lynch's previous deals included a buyback of foreign assets of Yukos, an oil and gas company previously owned by Russian businessman Mikhail Khodorkovsky, as well as Sberbank Switzerland AG - a Swiss branch of Russian state-owned banking group Sberbank.
With Nord Stream 2, as the pipeline is under US sanctions, Lynch needs a special exemption from Washington to be able to begin negotiations on the possibility of a buyback of the pipeline. The American businessman, who has been a long-time sponsor of the Republican Party, has submitted a request for an exemption to carry out the Nord Stream 2 AG purchase deal since the beginning of 2024, but has not yet been approved by Washington.
