Serious discussions are underway that could lead to the revival of the Nord Stream pipelines, a development that would mark a major shift in Europe’s post-2022 energy strategy. Reports indicate that both US and Russian stakeholders are exploring options to get gas flowing through the Baltic Sea pipelines once again — despite the political fallout from Russia’s invasion of Ukraine and the resulting sanctions.
The Nord Stream 1 pipeline, once a primary route for Russian gas into Germany, was damaged in an act of sabotage in 2022 and has been inactive since. Nord Stream 2, although completed in late 2021, never began operation. Now, with the war in Ukraine entering its fourth year and global economic pressures rising, momentum is building to reconsider the role of Russian gas in Europe’s energy mix.
Trump-Linked Interests and Pipeline Ownership Talks
According to multiple sources, US investors with ties to former President Donald Trump have expressed interest in acquiring Nord Stream 2 AG, the Swiss-based Gazprom subsidiary that owns the infrastructure. This potential deal, if successful, would see an American entity acting as an intermediary between Russian gas supplier Gazprom and European utility companies.
Investment advisor Chris Weafer, a long-time observer of Russian markets, confirmed that formal proposals have been made by US groups interested in purchasing the Nord Stream infrastructure. The idea is to create a buffer layer that distances direct dealings between European buyers and Gazprom while allowing the flow of gas to resume.
Although reports suggest that the United States and Russia have been involved in high-level conversations about the pipeline, others have criticized the idea. Experts from Ukraine and the European energy sector argue that any decision about energy imports should rest solely with European governments, not third-party negotiators from outside the continent.
White House Faces Internal Disagreements Over Sanctions
A separate report from Politico revealed internal debates within the Biden administration over whether to ease existing sanctions on Russian energy infrastructure in Europe — including Nord Stream 2. The discussions are reportedly tied to broader peace negotiation strategies between Russia and Ukraine.
While official US representatives such as Secretary of State Marco Rubio and Special Envoy Steve Witkoff deny these discussions, insider accounts claim Witkoff’s team has already begun compiling lists of current US sanctions targeting Russian energy projects.
This internal dispute has created tension between US geopolitical strategy and the interests of American energy exporters. Critics warn that reopening access to Russian gas could significantly reduce the demand for liquefied natural gas (LNG) from the United States, which has benefited from Europe’s shift away from Russian energy sources since 2022.
Energy Prices and Industry Impact in Germany
For German industry, high energy costs have been a persistent challenge since the cutoff of Russian supplies. Companies like BASF — one of the world’s largest chemical producers — were hit hard by the resulting price surge. While the company remains cautious about commenting on possible Russian gas deals, it acknowledges that energy prices have been a key factor affecting competitiveness.
Industry groups in Germany have called for any strategy that can ensure affordable and stable energy supplies. However, they also warn against falling back into energy dependencies that previously left Germany vulnerable to geopolitical pressure. The Chemical Industry Association of Germany emphasized that while cost reductions are welcome, energy policy must prioritize diversification and reliability.
Security and Supply Versus Strategic Autonomy
One pipeline of Nord Stream 1 remains technically undamaged, raising the possibility of partial reactivation. Some CDU politicians have already suggested exploring repair options, indicating that domestic debate in Germany is far from settled.
Yet, policymakers remain cautious. The abrupt suspension of gas deliveries by Russia in August 2022 highlighted the strategic risk of overreliance on a single supplier. The EU’s ongoing efforts to diversify its energy sources have included ramping up renewable energy, increasing LNG imports, and establishing alternative supply routes. Reopening the door to Russian gas could undermine those efforts unless carefully managed.
Geopolitical Consequences of a Restart
Restarting Nord Stream, even under new ownership, would send shockwaves through global energy markets. It could lower European energy prices and ease industrial costs, but it would also strengthen Russia’s position in the region and weaken the leverage of sanctions imposed after the invasion of Ukraine.
Meanwhile, any shift back to Russian energy would likely reduce demand for American LNG, impacting a sector that has rapidly expanded its role in Europe. The Biden administration faces a complex dilemma: pursue diplomatic solutions that might require economic concessions or maintain pressure on Russia at the cost of rising global energy prices and slower industrial recovery in Europe.
The next few months will be critical in determining whether Nord Stream remains a relic of Europe’s energy past or becomes a key element in a restructured, politically complex energy future.