Nord Stream AG

Nord Stream AG is a consortium for construction and operation of the Nord Stream (Nord Stream 1) submarine pipeline between Vyborg in Russia and Greifswald in Germany. 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. Its sister company Nord Stream 2 AG has the same headquarters and management but it is wholly owned by Gazprom.

Nord Stream AG
Joint stock company
Industrynatural gas
Founded30 November 2005
HeadquartersZug, Switzerland
Branch office: Moscow, Russia
Key people
Matthias Warnig (Managing Director)
Gerhard Schröder (Chairman of the Board)
Servicesnatural gas transportation
Number of employees
70 (2006)
ParentGazprom (51%)
Wintershall (15.5%)
PEG Infrastruktur AG (15.5%)
N. V. Nederlandse Gasunie (9%)
Engie (9%)
Websitewww.nord-stream.com

Shareholders

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 fell by 4.5% to 15.5%.[3]

Board

The members of the board are:

  • Gerhard Schröder, former Chancellor of Germany, former Prime Minister of Lower Saxony, Chairman of the Board
  • Oleg Aksyutin, head of the Gas Transportation, Underground Storage and Utilization Department of Gazprom
  • Alexander Medvedev, Deputy Chairman of the Board of Executive Directors of Gazprom
  • Hans-Ulrich Engel, Member of the Board of Executive Directors of BASF SE
  • Han Fennema, Chairman of the Executive Board, CEO of N.V. Nederlandse Gasunie
  • Isabelle Kocher, Chief Executive Officer of Engie
  • Vitaly Markelov, Deputy Chairman of the Management Committee of Gazprom
  • Mario Mehren, Chairman of the Board of Directors of Wintershall
  • Pavel Oderov, Head of Department of Gazprom
  • Marc Spieker, Member of the Board of Management of E.ON
  • Johannes Teyssen, Chairman of the Board of Management of E.ON

Management

The first managing director of Nord Stream AG was Matthias Warnig, former Chairman of the Board of Directors of Dresdner Bank ZAO, Dresdner Bank Russian subsidiary and former member of the Stasi. The current managing director is Alexey Zagorovskiy.

References
  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.
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