Germany sets up company for possible nationalisation of Gazprom Germania

The German authorities have created a holding company to carry out the possible nationalisation of the former German subsidiary of Russia’s Gazprom company - SEFE Securing Energy for Europe GmbH, which was called Gazprom Germania GmbH until 2022.

The company was founded secretly to carry out nationalisation in the short term, Gazeta.ru reports referring to the German Welt am Sonntag newspaper, citing sources.

Gazprom company’s former subsidiary is under the tutelage of Germany’s Federal Network Agency.

The Federal Ministry for Economic Affairs and Climate Action of Germany notes that it was aware of the establishment of this company.

“The preparation was made in May 2022 as a precautionary measure for any restructuring activities,” a spokesperson for the ministry said.