Nord Stream AG, based in Zug, Switzerland, is an international consortium of 5 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 5 shareholders of the Nord Stream consortium are PAO Gazprom, Wintershall Holding GmbH (a BASF subsidiary), E.ON SE, N.V. Nederlandse Gasunie and ENGIE.
The majority shareholder OAO Gazprom holds a 51 % stake in the pipeline project.
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 % of the project costs through equity contributions proportionate to their shares in the joint venture.
Some 70 % was financed externally by means of project financing from banks and export credit agencies.