Gazprom Germania operates 'critical infrastructure in Germany', according to BMWK
Germany's Gazprom move offers only temporary respite
Berlin acts to prevent Gazprom Germania ownership from transferring to shadowy Russian firms
Germany’s Federal Ministry for Economic Affairs and Climate Action (BMWK) has temporarily appointed the country’s energy regulator, the Bundesnetzagentur (Bnetza), as fiduciary to act on behalf of Gazprom Germania, the subsidiary of Russia’s Gazprom that controls the company’s European gas trading, storage, pipeline and wholesale and retail sales arms, as well as its global LNG and oil trading and shipping businesses. The BMWK cites its operation of “critical infrastructure in Germany” and resultant “outstanding importance” in the country’s gas supply as justification for the move. The ministry is also concerned by “unclear legal relationships” and “violation” of legal reporting obligations,
Also in this section
2 December 2024
Crucial role of gas means country is laying the foundations to control physical and trading supply chains
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
Although Iraq remains a major crude exporter, it is still some way from becoming a regional energy supply hub. Ambitious new cross-border schemes aim to rectify that situation
29 November 2024
There are opportunities for attractive returns and greater project success amid a real push by the Iraqi government for reform, as long as there is a shared understanding between the needs of investors and the host government
