Dutch gas distribution and transmission company Nederlandse Gasunie, pursuant to its umbrella agreement with Gazprom, has obtained a 9% stake in the Nord Stream, owing to a reduction in E.ON Ruhrgas and Wintershall Holding stakes by 4.5% each.
Nord Stream, initially named as North European Gas Pipeline Company, was established in 2005 for engineering, constructing and operating the Nord Stream gas pipeline.
Gasunie’s entry into the Nord Stream project deal was clinched upon receipt of approvals from Nord Stream shareholders, regulatory bodies, and signing of a number of documents set out in the umbrella agreement.
As a result, Nord Stream shareholders include Gazprom with 51%, Wintershall Holding and E.ON with 20% each and Gasunie with 9%.
The gas pipeline length is 1,200km. Nord Stream’s first line with the throughput of 27.5 billion cubic meters (bcm) per year will be commissioned in 2010. Upon construction of the second line the throughput will double to 55bcm per year. Nord Stream will be fed with gas from the Unified Gas Supply System.