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{{short description|Operators of the Nord Stream 1 pipeline}}
{{Infobox company
{{Infobox company
⚫
| name = Nord Stream AG
| logo = Nord Stream logo.jpg
| name = Nord Stream AG
⚫
| logo = Logo of Nord Stream AG.svg
| logo_size = 200px
| logo_size = 200px
| image = Nord-Stream-Office-Zug.jpg
| image = Nord-Stream-Office-Zug.jpg
| image_caption = Nord Stream head-office building in [[Zug]]
| image_caption = Nord Stream head-office building in [[Zug]]
| type = [[Joint stock company]]
| type = [[Joint stock company]]
| foundation = 30 November 2005
| foundation = 30 November 2005
| location = [[Zug]], [[Switzerland]]<br/>Branch office: [[Moscow]], [[Russia]]
| location = [[Zug]], [[Switzerland]]
⚫
| industry = [[oil and gas|Natural gas]]
| key_people = [[Matthias Warnig]] ([[Chief Executive Officer|Managing Director]])<br>[[Gerhard Schröder]] (Chairman of the Board)
⚫
| services = Natural gas transportation
| num_employees = 70 (2006)
⚫
| industry = [[oil and gas|natural gas]]
⚫
| services = natural gas transportation
| revenue =
| revenue =
⚫
| homepage = {{URL|www.nord-stream.com}}
| parent = [[Gazprom]] (51%)<br/>[[Wintershall]] (15.5%)<br/>[[Uniper|PEG Infrastruktur AG]] (15.5%)<br/>[[Gasunie|N. V. Nederlandse Gasunie]] (9%)<br/>[[Engie]] (9%)
⚫
| homepage = {{url|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.


⚫
'''Nord Stream AG'''{{Efn|until 4 October 2006 known as the North European Gas Pipeline Company}} is a [[consortium]] for construction and operation of the [[Nord Stream 1]] submarine pipeline between [[Vyborg]] in [[Russia]] and [[Greifswald]] in [[Germany]]. The consortium was incorporated in [[Zug]], [[Switzerland]], on 30 November 2005.
⚫
==Shareholders==
The shareholders of Nord Stream AG are:<ref name="nordstream1">{{cite web | publisher= Nord Stream AG | title = Facts & Figures | url= http://www.nord-stream.com/facts_figures.html?&L=0 | accessdate=2007-11-06}}</ref><ref name="gazprom1">
{{cite press release
| publisher= [[Gazprom]]
| title = Gazprom and Gasunie sign agreement on cooperation within Nord Stream and BBL projects
| url= http://gazprom.com/press/news/2007/november/article64029/
| date = 2007-11-06
| accessdate=2010-10-09
|archiveurl = https://web.archive.org/web/20080304135405/http://www.gazprom.com/eng/news/2007/11/25932.shtml
|archivedate = 2008-03-04}}
</ref>


Since the first gas delivery in 2011, the company has transported over 450 billion cubic metres of natural gas to Europe. In 2020, the German Federal Network Agency highlighted again the Nord Stream Pipeline's contribution to security of energy supply in Europe.{{citation needed|date=August 2022}}
⚫
* [[Gazprom]] - 51%
⚫
* [[Wintershall]] - 15.5%
⚫
* [[Uniper|PEG Infrastruktur AG]], a subsidiary of [[Uniper]] - 15.5%
⚫
* [[Gasunie|N.V. Nederlandse Gasunie]] - 9%
* [[Engie]] - 9%


Gas deliveries ceased on 31 August 2022, officially for three days of maintenance.<ref>{{Cite news |last=Cooban |first=Anna |date=31 August 2022 |title=Russia cuts more gas supplies to Europe as inflation hits another record |url=https://www.cnn.com/2022/08/31/business/nord-stream-1-europe-inflation/index.html |access-date= |website=[[CNN]]}}</ref> However on 2 September 2022, the company announced that natural gas supplies via the Nord Stream 1 pipeline would remain shut off indefinitely until the main gas turbine at the Portovaya compressor station near St Petersburg was fixed due to an engine oil leak.<ref name=":1">{{Cite news |date=2022-09-02 |title=Gazprom: Nord Stream 1 gas to stay shut until fault fixed, "workshop conditions needed" |language=en |work=[[Reuters]] |url=https://www.reuters.com/business/energy/gazprom-nord-stream-1-gas-stay-shut-until-turbine-fault-fixed-no-timeline-given-2022-09-02/ }}</ref> Finally, on 26 September 2022 both pipelines of [[Nord Stream pipeline sabotage|Nord Stream 1 were sabotaged]] beyond repair. Due to the [[Russian invasion of Ukraine]] Germany had halted the permitting process for [[Nord Stream 2]] which although technically ready had therefore never delivered gas when also one of its two pipelines was destroyed by the Nord Stream sabotage.<ref>{{cite web |title=Shutting Down Nord Stream Marks the Point of No Return for Russian Gas |url=https://carnegieendowment.org/politika/87837 |access-date=31 January 2023}}</ref>
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%.<ref name=reuters010310>
{{cite news
| url = http://uk.reuters.com/article/idUKLDE62016F20100301?sp=true
| title = GDF Suez, Gazprom sign Nord Stream pipeline deal
| publisher = [[Reuters]]
| author = Muriel Boselli
| date = 2010-03-01
| accessdate = 2010-03-01}}
</ref>


⚫
==Shareholders==
In August 2016, Gazprom achieved 100% ownership of Nord Stream AG.<ref name="Politico07102016>{{cite news |url=http://www.politico.com/story/2016/10/donald-trump-campaign-lobbyist-russian-pipeline-229264 |title=Lobbyist advised Trump campaign while promoting Russian pipeline |work=[[Politico]] |last1=Schreckinger |first1=Ben |last2=Ioffe |first2=Julia |date=7 October 2016 |access-date=16 March 2020}}</ref>
The shareholders of Nord Stream AG are:<ref name="nordstream1">{{Cite web |title=Facts & Figures |url=http://www.nord-stream.com/facts_figures.html?&L=0 |publisher=Nord Stream AG |accessdate=2007-11-06}}</ref><ref name="gazprom1">{{Cite press release |title=Gazprom and Gasunie sign agreement on cooperation within Nord Stream and BBL projects |date=2007-11-06 |publisher=[[Gazprom]] |url=http://gazprom.com/press/news/2007/november/article64029/ |accessdate=2010-10-09 |archiveurl=https://web.archive.org/web/20080304135405/http://www.gazprom.com/eng/news/2007/11/25932.shtml |archivedate=2008-03-04}}</ref>

==Board==
The members of the board are:


* Gazprom International Projects LLC, a subsidiary of [[Gazprom]] – 51%
*[[Gerhard Schröder]], former [[Chancellor of Germany]], former [[Prime Minister of Lower Saxony]], Chairman of the Board
⚫
* [[Wintershall Dea]] AG – 15.5%
*[[Oleg Aksyutin]], head of the Gas Transportation, Underground Storage and Utilization Department of Gazprom
⚫
* [[PEG Infrastruktur AG]], a subsidiary of [[Ruhrgas|E.ON Beteiligungen]] – 15.5%
*[[Alexander Medvedev]], Deputy Chairman of the Board of Executive Directors of Gazprom
⚫
* [[Gasunie|N.V. Nederlandse Gasunie]] – 9%
*[[Hans-Ulrich Engel]], Member of the Board of Executive Directors of BASF SE
⚫
* [[Engie]] – 9%
*[[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


On 1 March 2010, French energy company [[GDF Suez]] (changed name to Engie in 2015) 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%.<ref name="reuters010310">{{Cite news |last=Muriel Boselli |date=2010-03-01 |title=GDF Suez, Gazprom sign Nord Stream pipeline deal |publisher=[[Reuters]] |url=http://uk.reuters.com/article/idUKLDE62016F20100301?sp=true |archive-url=https://archive.today/20130201102947/http://uk.reuters.com/article/idUKLDE62016F20100301?sp=true |url-status=dead |archive-date=February 1, 2013 |accessdate=2010-03-01}}</ref>
==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]].


==Lobbying==
== Notes ==
{{Notelist}}
[[Richard Burt]] has lobbied extensively for Nord Stream projects.<ref name=Politico07102016/>


==References==
==References==
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[[Category:Natural gas pipeline companies]]
[[Category:Natural gas pipeline companies]]
[[Category:Oil and gas companies of Switzerland]]
[[Category:Oil and gas companies of Switzerland]]
[[Category:Companies based in Zug]]
[[Category:Gazprom subsidiaries]]
[[Category:Gazprom subsidiaries]]
[[Category:Uniper]]
[[Category:Uniper]]

Latest revision as of 14:02, 26 September 2024

Nord Stream AG
Company typeJoint stock company
IndustryNatural gas
Founded30 November 2005
HeadquartersZug, Switzerland
ServicesNatural gas transportation
Websitewww.nord-stream.com

Nord Stream AG[a] is a consortium for construction and operation of the Nord Stream 1 submarine pipeline between Vyborg in Russia and Greifswald in Germany. The consortium was incorporated in Zug, Switzerland, on 30 November 2005.

Since the first gas delivery in 2011, the company has transported over 450 billion cubic metres of natural gas to Europe. In 2020, the German Federal Network Agency highlighted again the Nord Stream Pipeline's contribution to security of energy supply in Europe.[citation needed]

Gas deliveries ceased on 31 August 2022, officially for three days of maintenance.[1] However on 2 September 2022, the company announced that natural gas supplies via the Nord Stream 1 pipeline would remain shut off indefinitely until the main gas turbine at the Portovaya compressor station near St Petersburg was fixed due to an engine oil leak.[2] Finally, on 26 September 2022 both pipelines of Nord Stream 1 were sabotaged beyond repair. Due to the Russian invasion of Ukraine Germany had halted the permitting process for Nord Stream 2 which although technically ready had therefore never delivered gas when also one of its two pipelines was destroyed by the Nord Stream sabotage.[3]

Shareholders

[edit]

The shareholders of Nord Stream AG are:[4][5]

On 1 March 2010, French energy company GDF Suez (changed name to Engie in 2015) 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%.[6]

Notes

[edit]
  1. ^ until 4 October 2006 known as the North European Gas Pipeline Company

References

[edit]
  1. ^ Cooban, Anna (31 August 2022). "Russia cuts more gas supplies to Europe as inflation hits another record". CNN.
  2. ^ "Gazprom: Nord Stream 1 gas to stay shut until fault fixed, "workshop conditions needed"". Reuters. 2022-09-02.
  3. ^ "Shutting Down Nord Stream Marks the Point of No Return for Russian Gas". Retrieved 31 January 2023.
  4. ^ "Facts & Figures". Nord Stream AG. Retrieved 2007-11-06.
  5. ^ "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.
  6. ^ Muriel Boselli (2010-03-01). "GDF Suez, Gazprom sign Nord Stream pipeline deal". Reuters. Archived from the original on February 1, 2013. Retrieved 2010-03-01.
[edit]
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