Gazprom sale fumble triggers canny German pounce, writes Ljucca
The German government seized on April 4 temporary control of Gazprom Germania, a European unit of the Russian gas major that owns gas storage facilities in Germany and controls energy suppliers in countries including the UK.
Berlin jumped into action after Gazprom Germania tried to sell its assets to Russian-controlled entities without prior approval from the German government, thus violating German law, the German Ministry for Economic Affairs and Climate Action said in a statement. The acquiring party had also ordered the liquidation of Gazprom Germania, according to the statement.
The German federal energy regulator will act as a trustee for Gazprom Germania until Sept. 30 and hold the voting rights of the Russian company. The ownership of Gazprom Germania remains with its Russian parent.The logo of Gazprom Germania is pictured at their headquarters, in Berlin, Germany April 1, 2022.
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