The United States and Russia are discussing the possibility of involving American investors in the Nord Stream gas pipeline project, according to people familiar with the talks.
The discussions reportedly involve US special envoy Jared Kushner and Russian presidential adviser Kirill Dmitriev. The two officials have met in Moscow and New York in recent weeks, although it remains unclear how extensively they discussed the pipeline during those meetings.
The proposal could potentially allow American investors to participate in the pipelines and benefit from renewed Russian gas supplies to Europe if the war in Ukraine eventually ends.
However, significant obstacles remain. Nord Stream is currently subject to US and European Union sanctions, meaning any restart would require changes to existing restrictions. A US official said a deal appeared unlikely in the medium term.
Germany has also opposed reopening the pipelines, saying it has secured alternative energy supplies. Any revival would require government approval.
The pipelines previously supplied Russian natural gas to Germany before deliveries were halted following Russia’s invasion of Ukraine. They were subsequently damaged in underwater explosions in September 2022.
Ownership could create another hurdle, as Russia’s Gazprom holds a majority stake while German, French and Dutch companies control the remaining shares.
Poland and several Baltic states are also expected to resist any move to restore Russian energy links with Europe.
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