Finance
Russia's Novak says no one has approached government about buying Nord Stream 2
Published by Global Banking & Finance Review®
Posted on June 19, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 19, 2025
1 min readLast updated: January 23, 2026
Russia's Deputy PM Novak states no inquiries received about Nord Stream 2 sale, despite reports of U.S. investor interest.
ST PETERSBURG (Reuters) -Russian Deputy Prime Minister Alexander Novak said on Thursday that no one has approached the Russian government about buying the Nord Stream 2 gas pipeline.
The Wall Street Journal reported in November that an American investor, Stephen P. Lynch, was seeking to buy the pipeline under the Baltic Sea, which was damaged by mysterious blasts in 2022.
The $11 billion Nord Stream 2 pipeline, set to carry Russian gas to Europe, was completed in 2021 but was never commissioned as relations with the West soured due to the onset of the conflict in Ukraine.
(Reporting by Olesya Astakhova; Writing by Lucy Papachristou; Editing by Mark Trevelyan)
Alexander Novak is the Russian Deputy Prime Minister who stated that no one has approached the government about buying the Nord Stream 2 gas pipeline.
The Nord Stream 2 pipeline was completed in 2021 but was never commissioned due to deteriorating relations with the West following the conflict in Ukraine.
An American investor, Stephen P. Lynch, was reported to be seeking to buy the Nord Stream 2 pipeline, which is located under the Baltic Sea.
The Nord Stream 2 pipeline cost approximately $11 billion to construct.
The Nord Stream 2 pipeline was damaged by mysterious blasts in 2022, which contributed to its operational challenges.
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