Nord Stream AG

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 planned 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

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

• Gazprom - 51%
• Wintershall - 15.5%
• E.ON Ruhrgas - 15.5%
• N.V. Nederlandse Gasunie - 9%
• GDF Suez - 9%

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

The members of the board are:

• Gerhard Schröder, former Chancellor of Germany, former Prime Minister of Lower Saxony, Chairman of the Board
• Alexei Miller, Deputy Chairman of OAO Gazprom, Chairman of the Management Committee of OAO Gazprom, CEO of OAO Gazprom, former Deputy Minister of Energy of Russia
• Alexander Medvedev, Deputy Chairman of the Board of Executive Directors of OAO Gazprom and Director General of OOO Gazprom Export, President of Kontinental Hockey League
• Vlada Russakova, member of the Board and Head of Strategic Development at OAO Gazprom
• Nikolai Dubik, Member of the Management Committee and Head of the Legal Department of OAO Gazprom.
• Eggert Voscherau, Deputy Chairman of the Board of Executive Directors and Director of Personnel of BASF AG
• Reinier Zwitserloot, Chairman of the Management Board of Wintershall AG
• Burckhard Bergmann, member of the Management Board of E.ON AG and Chairman of the Management Board of E.ON Ruhrgas AG, member of the Board of Directors of OAO Gazprom
• Hans-Peter Floren, Chairman of E.ON Ruhrgas Transport AG & Co. KG.
• Marcel P. Kramer, Chairman of the Executive Board and CEO of N.V. Nederlandse Gasunie

Management

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

1. ^ "Facts & Figures". Nord Stream AG. http://www.nord-stream.com/facts_figures.html?&L=0. 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. http://web.archive.org/web/20080304135405/http://www.gazprom.com/eng/news/2007/11/25932.shtml. Retrieved 2010-10-09. 
3. ^ Muriel Boselli (2010-03-01). "GDF Suez, Gazprom sign Nord Stream pipeline deal". Reuters. http://uk.reuters.com/article/idUKLDE62016F20100301?sp=true. Retrieved 2010-03-01. 

External links

• Nord Stream AG official website (English; Russian; German)