German Economy Minister Robert Habeck said on Monday “having entrusted the Federal Agency for the Regulation of Electricity, Gas and Other Essential Industries with the temporary control of the German subsidiary of the Russian energy giant Gazprom”reports the German wave.
“The Federal Government is doing what is necessary to ensure Germany’s security of supply”said Mr. Habeck. “It also means that we cannot allow German energy infrastructure to be dependent on arbitrary decisions by the Kremlin”he added.
“In recent days it emerged that Gazprom Germania had been acquired by two companies, JSC Palmary and Gazprom Export Business”explains the Financial Times. An illegal transaction because the Gazprom subsidiary manages infrastructure judged “essential” for Germany, and “its acquisition by an investor outside the European Union must be approved by the Ministry of the Economy”underlines the economic daily.
However, the German authorities do not know “who is hiding behind the two buyers”who further ordered “The liquidation of Gazprom Germania”even though “the acquisition was not pre-approved”.
Embroglio
Faced with this regulatory embroglio, and in the absence of clarification from the Russian authorities, the German government will therefore be in control of the company and its own European subsidiaries – particularly in the United Kingdom – until September 30th.
“This means that the federal regulatory agency will assume a shareholder role and can make all the decisions necessary to ensure security of supply” – Being heard that “the government is not intended to take possession of the company” definitively, summarizes Bloomberg.
Moscow did not specify the reasons for its disengagement, but the economic agency observes that “Gazprom subsidiaries in Europe are under pressure” and “might not survive”, whereas “their customers and business partners refuse to do business with them” since the invasion of Ukraine.
The takeover will also give Germany control over various Gazprom storage sites, including that of Astora, in Lower Saxony, “considered a pillar of the German energy network”observe the Daily Telegraph.
energy dependence
The world specifies, however, that “These storage facilities have been practically empty for several months. The German government believes this is a deliberate act to destabilize the country’s energy supply.”.
The Minister of the Economy nevertheless affirmed that “the gas supply was currently guaranteed”Write the Wall Street Journal : “Gazprom has said in recent days that exports to Europe will continue, in accordance with the contracts made”.
Berlin’s heavy energy dependence on Moscow remains a matter of contention within the European Union, notes Radio Free Europe-Radio Libertyand “Calls for a German boycott of Russian gas and oil have redoubled, at home and abroad, since the recent allegations of atrocities committed against civilians in the Ukrainian town of Boutcha”.
But again on Monday, Finance Minister Christian Lindner refused to support an EU embargo on imports of Russian gas – which represents between 60 and 65% of German consumption, underlines Five days. “It is obvious that we must put an end, as soon as possible, to all economic ties with Russia”said the Minister. “But we cannot replace gas in the short term”.