US and Russian officials have discussed bringing a US investor into the Nord Stream pipeline network that once supplied Russian gas to Germany, according to five people familiar with the talks.
The discussions involved US Special Envoy Jared Kushner and Kirill Dmitriev, a close adviser to Russian President Vladimir Putin. The talks come as Washington explores business opportunities that could support peace efforts between Russia and Ukraine.
Kushner has met Dmitriev in Moscow and New York in recent weeks. Two people told Reuters that Nord Stream has been part of the discussions, though the extent of those talks was not clear.
A White House official said any agreement would need negotiations involving Russia, the US International Development Finance Corporation and the Treasury Department.
"Any deals will have to be negotiated by Russia with DFC (US International Development Finance Corporation) and Treasury and must benefit United States taxpayers and companies," the official said.
A US official said a deal was unlikely in the medium term. The pipelines are under US and European Union sanctions, making a restart illegal under current restrictions. Trump could change US sanctions, though political opposition in Washington could make that harder if Democrats gain control of Congress in the November midterm elections.
Germany has also rejected the idea of reopening Nord Stream. Its economy and energy ministry said Russian gas and the pipelines are sanctioned, while Germany has developed alternative energy supplies. Before Russia invaded Ukraine in February 2022, Germany received more than half of its gas from Russia through Nord Stream.
The pipelines were later taken out of service, followed by underwater explosions in September 2022. The ownership structure could add another obstacle. Gazprom holds 51% of the company, while German entities own 31%. French and Dutch companies hold the remaining shares.
German lawmakers have warned that a new deal could strengthen Moscow financially. Michael Kellner called the proposal a potential ‘dirty deal’ for Europe. Meanwhile, Dmitriev has also discussed Russian energy assets in Europe with Kushner. Talks reportedly include Lukoil businesses, with a possible consortium involving DFC and investors from Qatar and the United Arab Emirates.
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