German authorities may nationalize the former subsidiary of Gazprom – DW – 09/22/2022

In addition to the nationalization of Germany’s largest gas importer – Uniper – The federal government may also transfer to state ownership the former subsidiary of the Russian gas monopoly Gazprom Germania, which has been transferred to the management of the Federal Grid Agency (BNetzA) since June 2022. On Thursday, September 22, the magazine Der Spiegel reports without citing sources.

The nationalization of Gazprom Germania, which received the name Securing Energy for Europe (Sefe) after the transition under the control of BNetzA, can be carried out “in the context of the rescue of the Leipzig gas importer company VNG”, the publication indicates. VNG received gas from Russia through a former subsidiary of Gazprom. According to Der Spiegel, the need to purchase gas to service its contracts in other markets, due to the fact that Russia has stopped supply energy to Germanycosts the company tens of millions of euros every day. These costs are currently borne by Sefe.

In early September, VNG applied for government support. According to Der Spiegel, the possible nationalization of Sefe should also support the Leipzig company.

When asked by the AFP agency, a representative of the German Ministry of Economics said that negotiations were underway in the federal government on future Sefe, refusing to provide any further details. The question of a possible nationalization of Sefe was already discussed in June, but then the federal government refused such a step. The term of management of the company by the Federal Grid Agency expires in September.

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