Nord Stream AG

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Nord Stream AG
Type Joint stock company
Industry Energy
Founded 30 November 2005
Headquarters Zug, Switzerland
Branch office: Moscow, Russia
Key people Matthias Warnig (Managing Director)
Gerhard Schröder (Chairman of the Board)
Products Nord Stream pipeline construction and operation
Employees 70 (2006)
Parent Gazprom (51%)
Wintershall (15.5%)
E.ON Ruhrgas (15.5%)
N. V. Nederlandse Gasunie (9%)
GDF Suez (9%)
Website www.nord-stream.com

Nord Stream AG is a consortium for construction and operation of the Nord Stream submarine pipeline between Vyborg in Russia and Greifswald in Germany, a project initially promoted by Chancellor Gerhard Schröder and President Vladimir Putin. The consortium was incorporated in Zug, Switzerland, on 30 November 2005. The original name of company was the North European Gas Pipeline Company. The company was renamed to Nord Stream AG on 4 October 2006.

Shareholders[edit]

The shareholders of Nord Stream AG are:[1][2]

On 1 March 2010, French energy company GDF Suez signed with Gazprom a memorandum of understanding to acquire 9% stake in the project. Accordingly, the stakes of Wintershall and E.ON Ruhrgas fell by 4.5% to 15.5%.[3]

Board[edit]

The members of the board are:

Management[edit]

The Managing Director of Nord Stream AG is Matthias Warnig, former Chairman of the Board of Directors of Dresdner Bank ZAO, Dresdner Bank Russian subsidiary and former member of the Stasi. Sergei Serdyukov from Gazprom serves as director for Technology, Paul Corcoran from Wintershall is director for Finance, and Henning Kothe from E.ON is director for Commercial Operations.

References[edit]

  1. ^ "Facts & Figures". Nord Stream AG. Retrieved 2007-11-06. 
  2. ^ "Gazprom and Gasunie sign agreement on cooperation within Nord Stream and BBL projects" (Press release). Gazprom. 2007-11-06. Archived from the original on 2008-03-04. Retrieved 2010-10-09. 
  3. ^ Muriel Boselli (2010-03-01). "GDF Suez, Gazprom sign Nord Stream pipeline deal". Reuters. Retrieved 2010-03-01. 

External links[edit]