BUSINESS Germany nationalises Gazprom subsidiary: ministry


Germany nationalises Gazprom subsidiary: ministry


22:22, November 14, 2022

Participants walk in front of a large screen displaying the logo of Russia's energy giant Gazprom during the St. Petersburg International Gas Forum (SPIGF) in Saint Petersburg on September 15, 2022. (File photo: AFP)

Germany announced Monday it was nationalising a former subsidiary of Russian energy giant Gazprom, saying the step was necessary because of the systemic relevance of the company for power supplies in the country.

The company Securing Energy for Europe GmbH (SEFE) was previously known as Gazprom Germania. It is a network operator, and indirectly controls Germany's largest gas storage facility in the northwestern town of Rehden.

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