A Miami Financier Is Quietly Trying to Buy Nord Stream 2 Gas Pipeline
An American investor with a history of dealmaking in Russia has asked the U.S. government to allow him to bid on the sabotaged Nord Stream Pipeline 2 if it comes up for auction in a Swiss bankruptcy proceeding.
Stephen P. Lynch spent two decades doing business in Moscow and now wants to buy the natural-gas pipeline that runs from Russia to Germany. He has argued to U.S. officials and lawmakers that American ownership of the pipeline would provide leverage in any peace negotiations with Russia to end the war in Ukraine and serve U.S. long-term interests.
“The bottom line is this: This is a once-in-a-generation opportunity for American and European control over European energy supply for the rest of the fossil-fuel era,” Lynch said in a rare interview.
Lynch, who lives in Miami and was a large contributor to Donald Trump’s presidential campaign, has told people “he wants to be the richest guy you’ve never heard of,” but his audacious plan would thrust the former Peace Corps volunteer into public view.
The 765-mile-long pipeline had been a crown jewel of Russia’s petro economy linking its vast gas fields to Europe. It was completed before Russia’s full-scale invasion of Ukraine in 2022 and never became commercially operational. It is owned by a subsidiary of Russia’s state-owned gas giant Gazprom, a unit that filed for bankruptcy in Switzerland days after the invasion. In September 2022, subsea explosions destroyed one of the pipeline’s two trunks. The other remains intact but unused.
Best vassal state Germany.