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Nord Stream AG

Operators of the Nord Stream 1 pipeline

Summary

Operators of the Nord Stream 1 pipeline

Field	Value
name	Nord Stream AG
logo	Logo of Nord Stream AG.svg
image	Nord-Stream-Office-Zug.jpg
image_caption	Nord Stream head-office building in Zug
type	Joint stock company
foundation	30 November 2005
location	Zug, Switzerland
industry	Natural gas
services	Natural gas transportation
homepage

Nord Stream AG 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.

Gas deliveries ceased on 31 August 2022, officially for three days of maintenance. 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. 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.

Shareholders

The shareholders of Nord Stream AG are:

Gazprom International Projects LLC, a subsidiary of Gazprom – 51%
Wintershall Dea AG – 15.5%
PEG Infrastruktur AG, a subsidiary of E.ON Beteiligungen – 15.5%
N.V. Nederlandse Gasunie – 9%
Engie – 9%

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%.

Notes

References

Cooban, Anna. (31 August 2022). "Russia cuts more gas supplies to Europe as inflation hits another record".
(2022-09-02). "Gazprom: Nord Stream 1 gas to stay shut until fault fixed, "workshop conditions needed"". [[Reuters]].
"Shutting Down Nord Stream Marks the Point of No Return for Russian Gas".
"Facts & Figures". Nord Stream AG.
(2007-11-06). "Gazprom and Gasunie sign agreement on cooperation within Nord Stream and BBL projects". [[Gazprom]].
Muriel Boselli. (2010-03-01). "GDF Suez, Gazprom sign Nord Stream pipeline deal". [[Reuters]].

Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

natural-gas-pipeline-companies oil-and-gas-companies-of-switzerland companies-based-in-zug gazprom-subsidiaries uniper engie

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