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{{Infobox company
{{Infobox company
| name = Nord Stream AG
| name = Nord Stream AG
| logo = Nord Stream logo.jpg
| logo = Logo of Nord Stream AG.svg
| logo_size = 200px
| logo_size = 200px
| image = Nord-Stream-Office-Zug.jpg
| image = Nord-Stream-Office-Zug.jpg
Line 12: Line 12:
| services = Natural gas transportation
| services = Natural gas transportation
| revenue =
| revenue =
| homepage = {{url|www.nord-stream.com}}
| homepage = {{URL|www.nord-stream.com}}
}}
}}


'''Nord Stream AG''' is a [[consortium]] for construction and operation of the [[Nord Stream 1]] submarine pipeline between [[Vyborg]] in [[Russia]] and [[Greifswald]] in [[Germany]]. 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 ("Nord" is German for "North").
'''Nord Stream AG'''{{Efn|until 4 October 2006 known as the North European Gas Pipeline Company}} is a [[consortium]] for construction and operation of the [[Nord Stream 1]] submarine pipeline between [[Vyborg]] in [[Russia]] and [[Greifswald]] in [[Germany]]. The consortium was incorporated in [[Zug]], [[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.{{citation needed|date=August 2022}}
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.{{citation needed|date=August 2022}}


Gas deliveries ceased on 31 August 2022, officially for three days of maintenance.<ref>{{Cite news |last=Cooban |first=Anna |date=31 August 2022 |title=Russia cuts more gas supplies to Europe as inflation hits another record |url=https://www.cnn.com/2022/08/31/business/nord-stream-1-europe-inflation/index.html |access-date= |website=[[CNN]]}}</ref> 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.<ref name=":1">{{Cite news |date=2022-09-02 |title=Gazprom: Nord Stream 1 gas to stay shut until fault fixed, "workshop conditions needed" |language=en |work=[[Reuters]] |url=https://www.reuters.com/business/energy/gazprom-nord-stream-1-gas-stay-shut-until-turbine-fault-fixed-no-timeline-given-2022-09-02/ }}</ref> Finally, on 26 September 2022 both pipelines of [[2022 Nord Stream pipeline sabotage|Nord Stream 1 were sabotaged]] beyond repair. Due to the [[Russian invasion of Ukraine]] Germany had halted the permitting process for [[Nord Stream 2]] which although technically ready had therefore never delivered gas when also one of its two pipelines was destroyed by the Nord Stream sabotage.<ref>{{cite web |title=Shutting Down Nord Stream Marks the Point of No Return for Russian Gas |url=https://carnegieendowment.org/politika/87837 |access-date=31 January 2023}}</ref>
Gas deliveries ceased in September 2022 following the destruction of three of the pipe lines and sanctions linked to the [[Russian invasion of Ukraine]].<ref>{{cite web |title=Shutting Down Nord Stream Marks the Point of No Return for Russian Gas |url=https://carnegieendowment.org/politika/87837 |access-date=31 January 2023}}</ref>


==Shareholders==
==Shareholders==
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* [[Engie]] – 9%
* [[Engie]] – 9%


On 1 March 2010, French energy company [[GDF Suez]] (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%.<ref name="reuters010310">{{Cite news |last=Muriel Boselli |date=2010-03-01 |title=GDF Suez, Gazprom sign Nord Stream pipeline deal |publisher=[[Reuters]] |url=http://uk.reuters.com/article/idUKLDE62016F20100301?sp=true |accessdate=2010-03-01}}</ref>
On 1 March 2010, French energy company [[GDF Suez]] (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%.<ref name="reuters010310">{{Cite news |last=Muriel Boselli |date=2010-03-01 |title=GDF Suez, Gazprom sign Nord Stream pipeline deal |publisher=[[Reuters]] |url=http://uk.reuters.com/article/idUKLDE62016F20100301?sp=true |archive-url=https://archive.today/20130201102947/http://uk.reuters.com/article/idUKLDE62016F20100301?sp=true |url-status=dead |archive-date=February 1, 2013 |accessdate=2010-03-01}}</ref>

== Notes ==
{{Notelist}}


==References==
==References==
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[[Category:Natural gas pipeline companies]]
[[Category:Natural gas pipeline companies]]
[[Category:Oil and gas companies of Switzerland]]
[[Category:Oil and gas companies of Switzerland]]
[[Category:Companies based in Zug]]
[[Category:Gazprom subsidiaries]]
[[Category:Gazprom subsidiaries]]
[[Category:Uniper]]
[[Category:Uniper]]

Latest revision as of 22:28, 12 September 2024

Nord Stream AG
Company typeJoint stock company
IndustryNatural gas
Founded30 November 2005
HeadquartersZug, Switzerland
ServicesNatural gas transportation
Websitewww.nord-stream.com

Nord Stream AG[a] is a consortium for construction and operation of the Nord Stream 1 submarine pipeline between Vyborg in Russia and Greifswald in Germany. The consortium was incorporated in Zug, 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.[citation needed]

Gas deliveries ceased on 31 August 2022, officially for three days of maintenance.[1] 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.[2] Finally, on 26 September 2022 both pipelines of Nord Stream 1 were sabotaged beyond repair. Due to the Russian invasion of Ukraine Germany had halted the permitting process for Nord Stream 2 which although technically ready had therefore never delivered gas when also one of its two pipelines was destroyed by the Nord Stream sabotage.[3]

Shareholders

[edit]

The shareholders of Nord Stream AG are:[4][5]

On 1 March 2010, French energy company GDF Suez (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%.[6]

Notes

[edit]
  1. ^ until 4 October 2006 known as the North European Gas Pipeline Company

References

[edit]
  1. ^ Cooban, Anna (31 August 2022). "Russia cuts more gas supplies to Europe as inflation hits another record". CNN.
  2. ^ "Gazprom: Nord Stream 1 gas to stay shut until fault fixed, "workshop conditions needed"". Reuters. 2022-09-02.
  3. ^ "Shutting Down Nord Stream Marks the Point of No Return for Russian Gas". Retrieved 31 January 2023.
  4. ^ "Facts & Figures". Nord Stream AG. Retrieved 2007-11-06.
  5. ^ "Gazprom and Gasunie sign agreement on cooperation within Nord Stream and BBL projects" (Press release). Gazprom. 2007-11-06. Archived from the original on 2008-03-04. Retrieved 2010-10-09.
  6. ^ Muriel Boselli (2010-03-01). "GDF Suez, Gazprom sign Nord Stream pipeline deal". Reuters. Archived from the original on February 1, 2013. Retrieved 2010-03-01.
[edit]
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