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Posts Tagged ‘Stephen Lynch’

Nord Stream update

Posted in accidents, energy policy, pipelines, tagged , , , , , , , on February 11, 2025| Leave a Comment »

Germany’s national elections are on 23 FEB. The Alternative für Deutschland (AfD) party, which has gained strength in the polls, supports a Nord Stream restart.

–Denmark’s energy agency granted Nord Stream AG permission to conduct preservation work on the Nord Stream 2 gas pipeline in the Baltic Sea (Reuters). One of the two Nordstream 2 lines is undamaged.

-An Equinor executive stated on February 5, 2025, that the Nord Stream 1 pipeline is “permanently destroyed.”

-The Swiss canton of Zug extended the moratorium on debt restructuring for Nord Stream AG until May 9. The moratorium is seen as a way for the German government to preserve its influence over the future of the pipeline. If the company is liquidated, investors, including the German state-owned energy firm Uniper, would lose control over the pipeline and the considerable funds invested by German taxpayers in its construction.

-Consideration is being given to transporting hydrogen from Finland via the undamaged Nord Stream 2 string. (The H2 might have to be mixed with methane to prevent embrittlement.)

-Resumption of Nord Stream flow could be part of a Russia-Ukraine ceasefire deal (along with Ukraine’s rare minerals).

-American investor Stephen Lynch continues his pursuit of the Nord Stream 2 pipeline.

–Chat GPT was asked what the likelihood was of the US orchestrating the Nord Stream sabotage. Response (see below): 60-80%

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More Nord Stream intrigue!

Posted in energy policy, pipelines, tagged , , , , on November 22, 2024| Leave a Comment »

American businessman Stephen Lynch wants to acquire the Swiss company that controls the Nord Stream 2 pipeline.

From his investment firm’s website: Over the last twenty years, Mr. Lynch has acquired and managed distressed assets in Eastern Europe, Central Asia, Russia, and Ukraine. He specializes in securing cross-border collaboration on transactions and settlements around special situations and corporate conflicts. Lynch is a life member of the Council on Foreign Relations.

Lynch has worked closely with the US Department of The Treasury’s Office of Foreign Assets Control (OFAC) to acquire and de-Russify important industrial assets in U.S. partner nations.

With regard to Nord Stream: “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 told the Wall Street Journal.

Nord Stream 2 bankruptcy proceedings are scheduled to begin in January.

A “US official” told the Washington Post that a Nord Stream revival is not in the US interest right now. However, a resumption of the flow of Nord Stream gas could be a significant consideration in talks to end the Ukraine – Russian war. Also, in light of economic and energy supply challenges, there is growing German interest in restoring ties with Russia.

This appears to be a serious initiative on the part of Mr. Lynch that should not be discounted.

Also looming is a court decision in the litigation between Nord Stream AG and their insurers.

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