22 Nov 2024 12:06

U.S. investor interested in buying Nord Stream 2 - paper

MOSCOW. Nov 22 (Interfax) - An American investor with experience doing business in Russia, Stephen Lynch has approached the U.S. government with a request to allow him to bid for the Nord Stream 2 gas pipeline if it comes up for auction in bankruptcy proceedings against Switzerland-based project operator Nord Stream 2 AG, the Wall Street Journal reported.

The paper said Lynch argued that U.S. ownership of the pipeline would give U.S. officials and lawmakers a tool to exert pressure in any peace negotiations with Russia to put an end to the conflict in Ukraine and serve long-term U.S. interests.

The Nord Stream 2 pipeline with capacity to transport 55 billion cubic meters of gas per year runs from the Slavyanskaya pump station in the Kingisepp district of Leningrad Region in Russia to the Baltic coast of Germany. The German authorities earlier halted the certification process for the pipeline, while the United States imposed sanctions on Nord Stream 2 AG.

Both strings of the pipeline were filled with gas and prepared for operation by Russian gas giant Gazprom . One string was damaged as a result of an explosion in September 2022.

A court in Switzerland's Zug canton has again extended the moratorium on Nord Stream 2 AG's bankruptcy until January 10, 2025. The company's creditors held a meeting in Zug this week at which a draft agreement with creditors was supposed to be presented. The results of the meeting have not been disclosed yet.