The Russian energy company is giving up its German subsidiary.
(Photo: GAZPROM Germania GmbH)
Dusseldorf The Russian gas giant Gazprom says it is giving up its German subsidiary Gazprom Germania. The group announced on Friday that it would withdraw from Gazprom Germania GmbH and its holdings, including Gazprom Marketing & Trading. The company did not provide any further details. Gazprom Germania was initially unable to comment.
The Russian parent company was previously the sole owner. Gazprom Germania’s holdings also include subsidiaries in Switzerland and the Czech Republic. Gazprom Germania’s business areas are trading, transport and storage of natural gas. It was initially unclear whether the announcement would have consequences for natural gas deliveries from Russia to Germany.
The Handelsblatt reported on Thursday that the Federal Ministry of Economics is internally working through an expropriation and nationalization of the German subsidiaries of the Russian energy companies Gazprom and Rosneft. The background to such considerations are concerns about the security of supply in Germany, as several government representatives confirmed to the Handelsblatt.
