Nord Stream AG

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Nord Stream AG

Type of Company	Joint stock company
Founded	2005
Headquarters	Zug, Switzerland
Key people	Matthias Warnig (Managing Director) Gerhard Schröder (Chairman of the Board)
Industry	Energy
Products	Nord Stream pipeline construction and operation
Employees	70 (2006)
Website	http://www.nord-stream.com/

Nord Stream AG is a consortium for constraction and operation of the planned Nord Stream submarine pipeline between Vyborg in Russia and Greifswald in Germany. It's 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.

Majority of shares (51%) is owned by the Russian gas company Gazprom, with further 24.5% shares owned by the German partners BASF and E.ON.^[1] On 5 October 2006 Gazprom and the Dutch gas infrastructure and transportation company N.V. Nederlandse Gasunie signed the Memorandum of Understanding, according to which Gasunie will get 9% of shares in the Nord Stream AG for exchange of 9% of shares in the BBL Company, an operator of the gas pipeline between Balgzand and Bacton. Accordingly the stakes of BASF and E.ON will decrease to 20%.^[2]

On 30 March 2006, shareholders’ committee of the Nord Stream AG hold its first meeting. The members of Shareholder Committee are:

Gerhard Schröder, former Chancellor of the Federal Republic of Germany -Chairman of the Committee
Alexei Miller, Chairman of the Board of Executive Directors of OAO Gazprom
Alexander Medvedev, Deputy Chairman of the Board of Executive Directors of OAO Gazprom and Director-General of OOO Gazexport
Vlada Russakova, member of the Board and Head of Strategic Development at 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
Dr. Burckhard Bergmann, member of the Management Board of E.ON AG and Chairman of the Management Board of E.ON Ruhrgas AG
Hans-Peter Floren, Chairman of E.ON Ruhrgas Transport AG & Co. KG.

Managing Director of the Nord Stream AG is Matthias Warnig, former Chairman of the Board of Directors of Dresdner Bank ZAO, Dresdner Bank Russian subsidiary. Sergey Serdyukov from Gazprom is director for Technology, Paul Corcoran from Wintershall is director for Finance, and Henning Kothe from E.ON is director for Commercial Operations. The manager of Nord Stream AG Moscow office is Vitaly Yusufov from Gazprom.