AMERICAN BUSINESSMAN LYNCH WANTS TO BUY WEAKENED NORD STREAM 2

The opportunity to buy Nord Stream 2 could arise if its operator Nord Stream 2 AG goes bankrupt.

American investor Stephen Lynch has announced that he wants to buy the Nord Stream 2 gas pipeline, the Wall Street Journal writes.

Lynch has requested permission from the US Treasury Department, which would allow him to negotiate with sanctioned organizations and individuals. Lynch plans to buy the pipeline if it is auctioned off in Switzerland as part of bankruptcy proceedings.

During the bankruptcy proceedings of the pipeline operator Nord Stream 2 AG, its debt could be restructured, which Lynch believes is unlikely, or sold for debt. A Swiss court has granted Nord Stream 2 AG a moratorium on payments to creditors until January 10, 2025.

Lynch argues that the deal represents a unique opportunity for Americans and Europeans to control Europe’s energy supply “until the end of the fossil fuel era.” In addition, the pipeline, in his view, can be used as a bargaining chip in negotiations to resolve the Ukrainian conflict.

Lynch has long specialized in buying Russian assets. Thus, in 2022, he bought 10% of the Swiss branch of Sberbank, and in 2007 he bought a branch of YUKOS registered in the Netherlands, and also wanted to buy a stake in the Lenta supermarket chain, up to a controlling share.

Nord Stream and Nord Stream 2 were blown up in September 2022.