The German Ministry of Economy justified this step by the imminent bankruptcy of the SEFE company, which would endanger the security of supplies in Germany.
The German government has decided to nationalize Gazprom’s former subsidiary, SEFE (Securing Energy for Europe), which owns the largest underground gas storage facility in Western Europe, Rehden. This was announced by Germany’s Ministry of Economic Affairs and Climate Protection on Monday, November 14.
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The agency justified this move on the imminent insolvency of SEFE, which would endanger the security of supplies in Germany.
“To avoid this risk and maintain SEFE’s operations, the change of ownership and consolidation of the company is currently underway,” the statement said.
The Ministry of Economy said that SEFE is a major energy supply company in Germany. Previously, it was called Gazprom Germania GmbH (GPG) and belonged to Gazprom.
“Following the unclear sale of GPG to another Russian company and an attempt to liquidate them, GPG, GPG / SEFE have been under the supervision of the Federal Network Agency since April. However, the ownership is still unclear,” the agency said.
It should be noted that in May, the Russians complained that Germany was “forcibly” filling the Rehden storage facility, which belongs to Gazprom Export, with gas.
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Source: korrespondent
I am Dylan Hudson, a dedicated and experienced journalist in the news industry. I have been working for Buna Times, as an author since 2018. My expertise lies in covering sports sections of the website and providing readers with reliable information on current sporting events.