Nord Stream AG
Encyclopedia
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.
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%.
, 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.
Vyborg
Vyborg is a town in Leningrad Oblast, Russia, situated on the Karelian Isthmus near the head of the Bay of Vyborg, to the northwest of St. Petersburg and south from Russia's border with Finland, where the Saimaa Canal enters the Gulf of Finland...
in Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
and Greifswald
Greifswald
Greifswald , officially, the University and Hanseatic City of Greifswald is a town in northeastern Germany. It is situated in the state of Mecklenburg-Vorpommern, at an equal distance of about from Germany's two largest cities, Berlin and Hamburg. The town borders the Baltic Sea, and is crossed...
in Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, a project initially promoted by Chancellor Gerhard Schröder
Gerhard Schröder
Gerhard Fritz Kurt Schröder is a German politician, and was Chancellor of Germany from 1998 to 2005. A member of the Social Democratic Party of Germany , he led a coalition government of the SPD and the Greens. Before becoming a full-time politician, he was a lawyer, and before becoming Chancellor...
and President Vladimir Putin
Vladimir Putin
Vladimir Vladimirovich Putin served as the second President of the Russian Federation and is the current Prime Minister of Russia, as well as chairman of United Russia and Chairman of the Council of Ministers of the Union of Russia and Belarus. He became acting President on 31 December 1999, when...
. The consortium was incorporated in Zug
Zug
Zug , is a German-speaking city in Switzerland. The name ‘Zug’ originates from fishing vocabulary; in the Middle Ages it referred to the right to ‘pull up’ fishing nets and hence to the right to fish.The city of Zug is located in the Canton of Zug and is its capital...
, Switzerland
Switzerland
Switzerland name of one of the Swiss cantons. ; ; ; or ), in its full name the Swiss Confederation , is a federal republic consisting of 26 cantons, with Bern as the seat of the federal authorities. The country is situated in Western Europe,Or Central Europe depending on the definition....
, 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:- GazpromGazpromOpen Joint Stock Company Gazprom is the largest extractor of natural gas in the world and the largest Russian company. Its headquarters are in Cheryomushki District, South-Western Administrative Okrug, Moscow...
- 51% - WintershallWintershallWintershall AG is the largest crude oil and natural gas producer in Germany. The company is based in Kassel, Germany. Wintershall is a wholly owned subsidiary of BASF, based in Ludwigshafen. The name Wintershall is derived from the surname of the enterprise co-founder Carl Julius Winter and the...
- 15.5% - E.ON RuhrgasE.ONE.ON AG, marketed with an interpunct as E•ON, is the holding company of the world's largest investor-owned energy service provider based in Düsseldorf, Germany. The name comes from the Greek word aeon which means eternity....
- 15.5% - N.V. Nederlandse Gasunie - 9%
- GDF SuezGDF SuezGDF Suez S.A. is a French multinational energy company which operates in the fields of electricity generation and distribution, natural gas and renewable energy. The world's largest utility after taking control of Britain's International Power, the company was initially formed by the merger of Gaz...
- 9%
On 1 March 2010, French energy company GDF Suez
GDF Suez
GDF Suez S.A. is a French multinational energy company which operates in the fields of electricity generation and distribution, natural gas and renewable energy. The world's largest utility after taking control of Britain's International Power, the company was initially formed by the merger of Gaz...
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%.
Board
The members of the board are:- Gerhard SchröderGerhard SchröderGerhard Fritz Kurt Schröder is a German politician, and was Chancellor of Germany from 1998 to 2005. A member of the Social Democratic Party of Germany , he led a coalition government of the SPD and the Greens. Before becoming a full-time politician, he was a lawyer, and before becoming Chancellor...
, former Chancellor of GermanyChancellor of GermanyThe Chancellor of Germany is, under the German 1949 constitution, the head of government of Germany...
, former Prime Minister of Lower SaxonyPrime Minister of Lower SaxonyThe Minister-President of Lower Saxony , also referred to as Premier or Prime Minister, is the head of government of the German state of Lower Saxony. The position was created in 1946, when the states of Brunswick, Oldenburg, Schaumburg-Lippe and the State of Hanover were merged to form the state...
, Chairman of the Board - Alexei MillerAlexei MillerAlexey Borisovich Miller is Deputy Chairman of the Board of Directors and Chairman of the Management Committee of Russian energy company Gazprom, Russia's largest company and the world's biggest natural gas producer....
, Deputy Chairman of OAO GazpromGazpromOpen Joint Stock Company Gazprom is the largest extractor of natural gas in the world and the largest Russian company. Its headquarters are in Cheryomushki District, South-Western Administrative Okrug, Moscow...
, Chairman of the Management Committee of OAO Gazprom, CEO of OAO Gazprom, former Deputy Minister of Energy of RussiaMinistry of Energy (Russia)The Russian Ministry of Energy is, since 2008, the Russian federal ministry responsible for energy policy. The first and current minister is Sergei Shmatko.... - Alexander MedvedevAlexander MedvedevAlexander Ivanovich Medvedev is the current Deputy Chairman of the Board of Executive Directors of Russian energy company Gazprom, president of the Kontinental Hockey League, and the Director-General of Gazprom's export arm Gazprom Export...
, Deputy Chairman of the Board of Executive Directors of OAO Gazprom and Director General of OOO Gazprom ExportGazprom ExportGazprom Export LLC. is a Russian company founded in 1973, the leading exporter of natural gas in the world, supplying Europe and the Commonwealth of Independent States. It is a 100% subsidiary of Gazprom. Gazprom Export's gas is mostly shipped by pipelines. Gazprom Export has a monopoly on gas...
, President of Kontinental Hockey LeagueKontinental Hockey LeagueThe Kontinental Hockey League is an international professional ice hockey league in Eurasia founded in 2008. As of 2009, it is ranked as the strongest hockey league in Europe.... - 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 BASFBASFBASF SE is the largest chemical company in the world and is headquartered in Germany. BASF originally stood for Badische Anilin- und Soda-Fabrik . Today, the four letters are a registered trademark and the company is listed on the Frankfurt Stock Exchange, London Stock Exchange, and Zurich Stock...
AG - Reinier Zwitserloot, Chairman of the Management Board of WintershallWintershallWintershall AG is the largest crude oil and natural gas producer in Germany. The company is based in Kassel, Germany. Wintershall is a wholly owned subsidiary of BASF, based in Ludwigshafen. The name Wintershall is derived from the surname of the enterprise co-founder Carl Julius Winter and the...
AG - Burckhard Bergmann, member of the Management Board of E.ONE.ONE.ON AG, marketed with an interpunct as E•ON, is the holding company of the world's largest investor-owned energy service provider based in Düsseldorf, Germany. The name comes from the Greek word aeon which means eternity....
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.ONE.ONE.ON AG, marketed with an interpunct as E•ON, is the holding company of the world's largest investor-owned energy service provider based in Düsseldorf, Germany. The name comes from the Greek word aeon which means eternity....
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 WarnigMatthias Warnig
Matthias Warnig is a former member of the Stasi and currently the Managing Director of the Nord Stream AG, a company for construction and operation of the Nord Stream submarine gas pipeline from Russia to Germany....
, former Chairman of the Board of Directors of Dresdner Bank
Dresdner Bank
Dresdner Bank AG was one of Germany's largest banking corporations and was based in Frankfurt. It was acquired by competitor Commerzbank in December 2009.- 19th century :...
ZAO, Dresdner Bank Russian subsidiary and former member of the Stasi
Stasi
The Ministry for State Security The Ministry for State Security The Ministry for State Security (German: Ministerium für Staatssicherheit (MfS), commonly known as the Stasi (abbreviation , literally State Security), was the official state security service of East Germany. The MfS was headquartered...
. 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.