US investor could enter Nord Stream pipelines as Kushner and Dmitriev discuss Russian gas deal
Senior US and Russian officials, including US Special Envoy Jared Kushner and Kirill Dmitriev, have discussed bringing a US investor into the Nord Stream pipelines, according to five people cited by Reuters. A White House official said there had been "no Nord Stream discussions recently" and that any deal must benefit US taxpayers and companies. A US official judged a deal unlikely in the medium term, given US and EU sanctions on the pipelines.
Bottom line — Germany, Poland and the Baltic states oppose reopening the pipelines, and a deal would also require Gazprom and two German shareholders to agree.
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Reuters reports that Germany bought more than half its gas from Russia through Nord Stream before February 2022, and the pipelines were damaged in underwater explosions in September 2022.
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The company controlling the pipelines is 51% owned by Gazprom, 31% by two German entities, with the rest held by French and Dutch firms, according to Reuters.
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Reuters sources say the two German shareholders want to keep their stakes to maintain German influence if Gazprom sells.
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Germany's economy and energy ministry said Germany had found alternatives and that reopening would require government approval, which it does not want.
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Germany's coalition government opposes restarting the pipeline, while the Alternative for Germany party backs it, and Dmitriev plans to meet AfD leaders early next year, Reuters reports.
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Meduza reports that Germany and other European countries are expected to oppose any resumption, citing preparations against Russian hybrid attacks.
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Benzinga reports that a US law signed by Trump allows tariffs of up to 100% on countries that keep buying Russian oil and gas.
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Reuters reports that Kushner and Dmitriev also discussed selling Lukoil-owned refineries and petrol stations in Europe and elsewhere, with a DFC-led consortium buying them while US authorities lift sanctions.
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Reuters reports that Kushner said in Kyiv that he had spoken to European counterparts about how the war pushed up energy prices.
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Reuters says Michael Kellner, a German lawmaker, called it "a dirty deal that will cost Europe dearly".