Who We Are
Nord Stream AG, based in Zug, Switzerland, is an international consortium of five major companies established in 2005 for the planning, construction and subsequent operation of two 1,224-kilometre natural gas pipelines through the Baltic Sea.
The five shareholders of the Nord Stream consortium are PAO Gazprom, Wintershall Holding GmbH (a BASF subsidiary), PEG Infrastruktur AG (PEGI/E.ON subsidiary), N.V. Nederlandse Gasunie and ENGIE. The majority shareholder OAO Gazprom holds a 51 percent stake in the pipeline project. Leading German energy companies Wintershall Holding GmbH and PEGI/E.ON hold 15.5 percent each, and the Dutch natural gas infrastructure company N.V. Nederlandse Gasunie, along with the leading French energy provider ENGIE, each hold a 9 percent stake. The combined experience of these companies ensures the best technology, safety and corporate governance for the Nord Stream project, which aims to provide a secure energy supply for Europe.
The twin pipelines, which have been operational since 2011 and 2012 respectively, have the capacity to transport a combined total of about 55 bcm of gas a year – that's enough to satisfy the energy demand of more than 26 million European households. Nord Stream has designed the pipelines to operate for at least 50 years.
Total investment in the pipeline system was 7.4 billion euros. This financing stemmed partly from Nord Stream's shareholders, which provided 30 percent of the project costs through equity contributions proportionate to their shares in the joint venture. Some 70 percent was financed externally by means of project financing from banks and export credit agencies.