Rumors of reviving Nord Stream 2 to bring Russian gas to Germany using US funding are being discussed by US representatives in closed-door talks in Switzerland.
According to information published by German newspaper Bild, US presidential special missionary Richard Grenell has traveled to Switzerland several times to negotiate the resumption of Nord Stream 2 pipeline operations.
"The dispatcher has made several unofficial trips to Switzerland to discuss the deal," Bild said.
Nord Stream 2 AG - the operator of the Nord Stream 2 pipeline - registered to operate in the Swiss state of Zug.
According to Bild, in the negotiated deal, the US will play an intermediary role in supplying Russian gas via the Nord Stream 2 gas pipeline while Nord Stream is expected to be repaired and converted to provide "green" hydrogen from Finland to Germany.
Under the deal, the US government will not be directly involved in the Nord Stream 2 revival deal, but US investors will rescue Nord Stream 2 AG from bankruptcy and buy back shares in the company. Bild also named American businessman Stephen Lynch as one of the potential investors.
German authorities told Bild that they were unknown about the meetings of US special border agent Grenell in Switzerland. Greenell himself has not confirmed his involvement in the negotiations.
Over the weekend, the Financial Times quoted multiple sources as saying that Matthias Warnig - former leader of Nord Stream 2 AG - planned to resume the pipeline's operations with the help of US investors and has contacted US President Donald Trump's team on the issue.
Matthias Warnig is a former East German secret police officer who oversaw the Nord Stream 2 project until it was forced to stop operations in 2023.
The newspaper said that a group of US investors have drafted a plan for an agreement with Gazprom and could complete it after the US sanctions on Russia are lifted.
During his first term, President Donald Trump has contributed to the closure of the Nord Stream 2 project and mobilized Germany to buy US liquefied natural gas. However, relations between Russia and the US have made positive progress since President Trump returned to the White House in January this year.
The Times pointed out that the obstacles to reviving Nord Stream 2 are huge. Only one branch is intact and the estimated cost of repairing the damaged branch is over 100 million USD. Nord Stream 2 AG also has just two months to prepare a multi-billion-dollar debt repayment package for creditors.
The German government has also not expressed any concern about resuming the certification process for the Nord Stream 2 pipeline, which was suspended for several days before Russia launched a military campaign in Ukraine in February 2022.
The Nord Stream and Nord Stream 2 pipelines in the Baltic Sea are the biggest symbol of Europe's dependence on Russian energy. However, three of the four branches of the pipeline system were destroyed in September 2022. German prosecutors believe the Nord Stream sabotage was carried out by a group of Ukrainians.
