Type Joint stock company Website www.nord-stream.com Founded 30 November 2005 | Industry Energy Number of employees 70 (2006) | |
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Products Nord Stream pipeline construction and operation Key people Matthias Arthur Warnig (Chief Executive), Gerhard Schröder (Chairman of the Board) | ||
Nord Stream AG is a consortium for construction and operation of the 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.
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Shareholders
The shareholders of Nord Stream AG are:
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%.
Board
The members of the board are:
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.