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Gazprom companies will not return to the Russian fold

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The German energy regulator seized control of Gazprom Germania to ensure security of supply

A cyclist passes the headquarters of Gazprom Germania, in Berlin, Germany, April 1 2022. Picture: FABRIZIO BENSCH/REUTERS

The German energy regulator seized control of Gazprom Germania — which owns energy supplier Wingas and a gas storage firm — to ensure security of supply. The company’s subsidiaries include the trading arm in London, a UK retail supplier and businesses from Switzerland to Singapore. Since Germany took control of the companies earlier in April, some peers have gone back to doing business with Gazprom Marketing & Trading, while others are “in the process of digesting recent events”, according to the email.

 

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