Germany nationalizes former subsidiary of Gazprom

The European Commission approved the allocation of 225.6 million euros for the nationalization by Germany of the former subsidiary of “Gazprom” SEFE, media reported.

Germany nationalizes former subsidiary of Gazprom

The European Commission stressed that this measure is necessary for Germany, because it is appropriate and proportionate to eliminate serious disruptions in the country’s economy.

“The European Commission has approved a €225.6 million German bailout measure to support SEFE Securing Energy for Europe GmbH, formerly Gazprom Germania GmbH, which is currently under German tutelage. This measure will allow the German state to become a 100% owner of SEFE GmbH, replacing Gazprom Export LLC, in order to ensure the security of gas supplies to the German economy,” the document says.

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