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September 23, 2022

Germany looking to nationalise another gas importer

The takeover of SEFE is aimed at ensuring energy supplies in the country as Russia continues to cut supplies.

Germany is considering options to nationalise gas importer SEFE, the German subsidiary of Russian energy giant Gazprom, reported Reuters.

The report comes a day after the German government decided to nationalise Uniper to ensure steady gas supplies in the country amid the rising energy crises.

Sources told the news agency that a decision is yet to be made on the potential nationalisation of SEFE, which would protect it from bankruptcy.

The news was first reported by German news portal Spiegel.

Germany Economy Ministry and the energy regulator spokespeople said deliberations over SEFE’S future were ongoing.

According to experts, SEFE’S nationalisation would occur but could take weeks.

Since April 2022, SEFE and its subsidiaries have been under the German Federal Network Agency’s fiduciary management to ensure gas supply in the European country.

At that time, the German Federal Ministry for Economic Affairs and Climate Action said in a statement: “Gazprom Germania GmbH operates critical infrastructure in Germany and is therefore of outstanding importance for the gas supply.”

This move comes after Gazprom abandoned Gazprom Germania.

SEFE has assets and subsidiaries in Germany, Switzerland, Britain, Belgium, the Czech Republic, and outside Europe.

The nationalisation of energy firms by Germany comes as the country struggles to secure its energy supplies.

Russia cut supplies to European countries after Nato and its allies imposed sanctions against Russia for invading Ukraine.

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