The German government is preparing to provide billions of euros to save the former subsidiary of the Russian company Gazprom, which is now under the control of the energy regulator.
–
The publication, citing sources, writes that Gazprom Germania GmbH can receive a loan in the amount of 5 to 10 billion euros. Negotiations are still ongoing and plans may change.
It is expected that this money will help stabilize the company’s financial position and ensure the reliability of supplies. After a temporary administration was introduced into Gazprom Germania, the Russian side limited supplies and the former “daughter” had to buy gas on the spot market at higher prices.
It should be noted that Gazprom Germania owns several gas storage facilities in Germany and Wingas GmbH, which supplies large industrial consumers. In addition, the company has a retail business that provided a fifth of the UK’s commercial gas in 2020.
–
