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Nord Stream gas pipeline (initially – North European Gas Pipeline)

Switzerland

Address: Grafenauweg 2 6304 Zug ,Switzerland

Tel: +41 41 7669191

Web: http://www.nord-stream.com/

Company description

In 2005 Gazprom set about building the Nord Stream gas pipeline (initially – North European Gas Pipeline). The pipeline across the Baltic Sea towards Western Europe constitutes a fundamentally new export route for Russian Federationn gas to European customers. The 1,200-km-long submerged section will cross the Baltic Sea from Vyborg to the German coast near Greifswald. With no transit countries on its way, the new transnational gas main is distinguished by low country risk and transit costs, while assuring more reliable export supply. The project is crucial to diversify export routes and directly link the gas transmission pipelines of Russian Federation with the European gas network. Gazprom teamed up with BASF AG (Wintershall), E.ON AG (E.ON Ruhrgas) and N.V. Nederlandse Gasunie to implement the Nord Stream project. The partner stakes in Nord Stream AG - operator of the project – are split as follows: Gazprom – 51%, Wintershall and E.ON Ruhrgas – 20% each, Gasunie – 9%. Nord Stream will transport up to 55 billion cubic m of gas each year which is enough to supply more than 25 million households.

Products and services

Nord Stream AG is a consortium for construction and operation of the planned Nord Stream submarine pipeline that was incorporated in Zug, Switzerland, on November 30, 2005 (formerly the North European Gas Pipeline Company, renamed to Nord Stream AG on October 4, 2006). The Managing Director of Nord Stream AG is Matthias Warnig, former Chairman of the Board of Directors of Dresdner Bank ZAO, a Dresdner Bank Russian Federationn subsidiary.
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