Germany looks to ensure the security of its energy supply amid the Russia-Ukraine crisis. Credit: ddp via Die Bundesregierung.

Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict

The German energy regulator will temporarily take over Russian energy giant Gazprom’s German subsidiary, Gazprom Germania, to ensure energy security.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The move comes days after Gazprom exited its energy trading, storage, and transmission business, Gazprom Germania, due to strained energy ties between Russia and Germany, in the wake of Moscow’s military incursion on Ukraine.

At a news conference, German Economy Minister Robert Habeck said that all voting rights in Gazprom Germania will be transferred to the regulator, Bundesnetzagentur, reported Reuters.

The Federal Network Agency, the central infrastructure authority in Germany, has now been appointed by the Federal Ministry of Economics and Climate Protection as a trustee for the Gazprom Germania Group, until 30 September 2022.

See Also:

Habeck said: “The arrangement of the trust administration serves to protect public safety and order, and to maintain the security of supply.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“This step is mandatory. The security of supply is currently guaranteed.”

Given that Gazprom Germania operates critical infrastructure in Germany, it is deemed to have an ‘outstanding importance’ for the country’s gas supply.

Bundesnetzagentur head Klaus Mueller said: “Our goal will be to run Gazprom Germania in the interests of Germany and Europe.”

The Economy Ministry noted that the latest move by the German energy regulator would also delay the potential acquisition of Gazprom Germania by Russia-based JSC Palmary and Gazprom export business services, reported the news agency.

Habeck added that the government took steps so that “we do not subject energy infrastructures in Germany to arbitrary decisions by the Kremlin. The proper conduct of business in Germany must be ensured.”