US and Russia Discuss Nord Stream Agreement, Reports Media

Negotiations surrounding an American acquisition of Russian-owned energy infrastructure have reportedly been in progress for several months. According to a report from German outlet Correctiv, Washington and Moscow are engaged in discussions...

US and Russia Discuss Nord Stream Agreement, Reports Media
Negotiations surrounding an American acquisition of Russian-owned energy infrastructure have reportedly been in progress for several months.

According to a report from German outlet Correctiv, Washington and Moscow are engaged in discussions regarding a significant deal that would facilitate the resumption of Russian energy exports.

The prospective agreement may see American companies acquiring components of the Nord Stream pipeline infrastructure, along with stakes in three German refineries that are currently owned by a subsidiary of the Russian energy corporation Rosneft, the report indicates.

These discussions are said to encompass conditions necessary for reinstating Russian oil and gas exports to the EU, and they have allegedly been ongoing “for months.”

The Nord Stream undersea gas pipelines, consisting of two sets of two, served as critical channels for Russian gas exports to Europe before 2022. The first pipeline had a capacity of delivering up to 55 billion cubic meters of gas annually, while the second pipeline, known as Nord Stream 2, had a similar capacity but was never brought into operation due to Germany not certifying it just prior to Russia's military actions against Ukraine in February 2022.

In September 2022, three of the four Nord Stream pipelines were rendered non-operational due to sabotage. While no perpetrators have been officially identified, sections of the Western media have often pointed towards Ukraine.

As reported by Correctiv, Nord Stream 2 AG is allegedly in discussions with potential investors, possibly from the United States. The company is said to have informed a court in Switzerland that it was “in intensive contact with the financial investors.” A January report by Reuters noted that a Swiss court postponed bankruptcy proceedings for Nord Stream AG until May 9, which Correctiv links to these ongoing negotiations.

Furthermore, a November article from the Wall Street Journal indicated interest from US businessman and investor Stephen P. Lynch in purchasing the Nord Stream 2 infrastructure. Earlier in March, the German tabloid Bild had also reported that the US and Russia were engaged in “secret talks” to make Nord Stream 2 operational.

Correctiv also mentioned ongoing discussions regarding the American acquisition of a majority stake in the Schwedt oil refinery located in the eastern German state of Brandenburg, which reportedly involve the German chancellor’s office and the federal economic ministry.

Preliminary agreements may potentially be reached in the coming weeks, according to Correctiv's report. The outlet suggested that this deal could form part of a larger arrangement between Moscow and Washington concerning a ceasefire in the conflict in Ukraine.

Neither Moscow nor Washington has officially commented on these reports. However, Russian President Vladimir Putin hinted at the possibility of an agreement with the US on Thursday, stating, “If the US and Russia reach an agreement on energy cooperation, a gas pipeline could be provided for Europe, which would benefit Europe as well since it would get cheap Russian gas.”

Aarav Patel for TROIB News