Progress

At present, Nord Stream AG is building up its registered office and operational structures in Zug, Switzerland. A branch office in Moscow was established in January 2007.

Joint shareholder working groups are finalising technical, legal, commercial, and financial aspects of Nord Stream. In the framework of the project approval process, Nord Stream AG is establishing preparatory contacts with governmental and non-governmental organizations in the European Union. Environmental Impact Assessment preparation process has started and is going according to plan.

The permitting process for the natural gas pipeline thought the Baltic Sea continues, as the Nord Stream company develops an active dialogue with the environmental authorities and the public in the Baltic Sea region countries. Nord Stream is holding a series of public presentations and consultations in the counties involved in the environmental impact assessment of the project. The meetings, organised under the auspices of environmental authorities, are aimed at explaining economic, technical and environmental aspects of the project as well as answering questions and concerns of the public.

Denmark, Finland, Germany, Sweden, as the «Parties of origin» under the Espoo Convention, and Russia has informed Nord Stream of the results of the consultations. As a result, the company has received 129 comments from national authorities and general public which focus on the impact on the seabed and commercial fisheries as well as on dumped and residual munitions — issues which Nord Stream and its shareholders have addressed and researched for some years. This information will be an important basis for preparing the final environmental impact assessment of the project.

The permitting process started on 14 November 2006, when Nord Stream submitted project information document (the document is available here) on the planned pipeline through the Baltic Sea to the responsible environmental authorities of Denmark, Finland, Germany, Russia, and Sweden in accordance with the Espoo Convention. The Nord Stream pipeline is planned to pass through the exclusive economic zones and/or territorial waters of these countries which (except Russia) are therefore defined by the Convention as the «Parties of origin». Russia is a signatory but not a Party to the Espoo Convention. However, Russia will act as a Party of origin as far as it considers it possible according to its legislation.