Nord Stream AG is a

consortium A consortium () is an association of two or more individuals, companies, organizations, or governments (or any combination of these entities) with the objective of participating in a common activity or pooling their resources for achieving a ...

for construction and operation of the

Nord Stream 1 Nord Stream (Denglisch, German–English mixed expression for "North Stream 1"; ) is a pair of offshore natural gas pipeline transport, pipelines in Europe that run under the Baltic Sea from Russia to Germany. It consists of the Nord Stream 1 ( ...

submarine pipeline between

Vyborg Vyborg (; , ; , ; , ) is a town and the administrative center of Vyborgsky District in Leningrad Oblast, Russia. It lies on the Karelian Isthmus near the head of Vyborg Bay, northwest of St. Petersburg, east of the Finnish capital H ...

Russia Russia, or the Russian Federation, is a country spanning Eastern Europe and North Asia. It is the list of countries and dependencies by area, largest country in the world, and extends across Time in Russia, eleven time zones, sharing Borders ...

and

Greifswald Greifswald (), officially the University and Hanseatic City of Greifswald (, Low German: ''Griepswoold'') is the fourth-largest city in the German state of Mecklenburg-Western Pomerania after Rostock, Schwerin and Neubrandenburg. In 2021 it surpa ...

Germany Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total popu ...

. The consortium was incorporated in

Zug Zug (Standard German: , Alemannic German: ; ; ; ; )Named in the 16th century. is the largest List of cities in Switzerland, town and capital of the Swiss canton of Zug. Zug is renowned as a hub for some of the wealthiest individuals in the wor ...

Switzerland Switzerland, officially the Swiss Confederation, is a landlocked country located in west-central Europe. It is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. 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 On 24 February 2022, , starting the largest and deadliest war in Europe since World War II, in a major escalation of the Russo-Ukrainian War, conflict between the two countries which began in 2014. The fighting has caused hundreds of thou ...

Germany had halted the permitting process for

Nord Stream 2 Nord Stream 2 (German language, German–English language, English mixed expression for "North Stream 2"; ) is a natural gas pipeline from Russia to Germany running through the Baltic Sea, financed by Gazprom and several European energy compani ...

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 PJSC Gazprom ( rus, Газпром, , ɡɐsˈprom) is a Russian State-owned enterprise, majority state-owned multinational Energy industry, energy corporation headquartered in the Lakhta Center in Saint Petersburg. The Gazprom name is a contract ...

– 51% *

Wintershall Dea Wintershall Dea GmbH is a German gas and oil producer. The joint venture was created in May 2019 by the merger between Wintershall Holding GmbH and DEA Deutsche Erdoel AG. BASF SE has a 67% stake in it, with the other 33% being held by LetterO ...

AG – 15.5% * PEG Infrastruktur AG, a subsidiary of E.ON Beteiligungen – 15.5% * N.V. Nederlandse Gasunie – 9% *

Engie Engie SA (stylised in all caps as ENGIE) is a French multinational electric utility company, headquartered in La Défense, Courbevoie. Its activities cover electricity generation and distribution, natural gas, nuclear power, renewable energy ...

– 9% On 1 March 2010, French energy company

GDF Suez Engie SA (stylised in all caps as ENGIE) is a French multinational electric utility company, headquartered in La Défense, Courbevoie. Its activities cover electricity generation and distribution, natural gas, nuclear power, renewable energy ...

(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

{{Reflist

External links

Nord Stream AG official website (English; Russian; German)
Natural gas pipeline companies Oil and gas companies of Switzerland Companies based in Zug Gazprom subsidiaries Uniper Engie nl:Nord Stream AG