US, Russian envoys reportedly discuss American stake in Nord Stream

White House and Berlin push back, according to Reuters report.

US and Russian officials have held talks about bringing a US investor into the Nord Stream gas pipelines that carried Russian gas to Germany before Russia’s full-scale invasion of Ukraine, five people familiar with the matter told Reuters.

The discussions reportedly involved US special envoy Jared Kushner, son-in-law of President Donald Trump, and Kirill Dmitriev, a close adviser to Russian President Vladimir Putin and head of the Russian Direct Investment Fund.

Kushner and Dmitriev have met in Moscow and New York in recent weeks. It was unclear how extensively they addressed Nord Stream at those meetings, but two sources said the pipelines remain on the agenda.

Kushner, who with fellow envoy Steve Witkoff has been seeking a truce in the war, views commercial deals as central to restoring peace, the sources said. An arrangement of this kind would allow US investors to profit from energy flows to Europe once fighting ends. Dmitriev has long favored resuming Russian gas sales to Germany and, in September, met US Energy and Treasury officials to discuss possible US–Russia energy initiatives.

A White House official told Reuters there had been “no Nord Stream discussions recently.” The official said any deals would have to be negotiated by Russia with the US International Development Finance Corporation and the Treasury Department and “must benefit United States taxpayers and companies.”

A US official said a deal is unlikely in the medium term given the obstacles. A representative for Dmitriev declined to comment.

The pipelines are under US and EU sanctions, so a restart would be illegal under current rules. Trump could waive or soften US sanctions, Reuters noted, though that would ostensibly become harder if Democrats win control of Congress in next month’s midterm elections.

A spokesperson for Germany’s economy and energy ministry told Reuters that Germany has found alternatives to Russian gas and that government approval for restarting the lines is neither granted nor desired.

Other European governments that are increasing defense spending in response to Russia are also expected to resist reopening the routes.

Before the war, Germany bought most of its gas from Russia. The Nord Stream lines were idled after Moscow cut supplies and were damaged by underwater explosions in September 2022.

Putin has said a surviving string could be restarted quickly and that Moscow is ready to resume supplies if Europe makes a political decision. Ownership is split, with Gazprom holding 51 percent of the company that controls the pipelines and German, French, and Dutch entities holding the rest.

Earlier reporting has described U.S. financier interest in Nord Stream 2 and Russian proposals of energy and infrastructure projects tied to peace talks, none of which produced a confirmed deal.

 

 

About the Author

Bruce Beaubouef

Bruce Beaubouef

Senior Lead Reporter / Managing Editor

Bruce Beaubouef is Managing Editor for Offshore magazine. In that capacity, he plans and oversees content for the magazine; writes features on technologies and trends for the magazine; writes news updates for the website; creates and moderates topical webinars; and creates videos that focus on offshore oil and gas and renewable energies. Beaubouef has been in the oil and gas trade media for 25 years, starting out as Editor of Hart’s Pipeline Digest in 1998. From there, he went on to serve as Associate Editor for Pipe Line and Gas Industry for Gulf Publishing for four years before rejoining Hart Publications as Editor of PipeLine and Gas Technology in 2003. He joined Offshore magazine as Managing Editor in 2010, at that time owned by PennWell Corp. Beaubouef earned his Ph.D. at the University of Houston in 1997, and his dissertation was published in book form by Texas A&M University Press in September 2007 as The Strategic Petroleum Reserve: U.S. Energy Security and Oil Politics, 1975-2005.

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