Germany creates company for possible nationalization of former Gazprom subsidiary

The German authorities have created a company to carry out the possible nationalization of SEFE Securing Energy for Europe GmbH, the former subsidiary of Gazprom in Germany, Report informs via Welt am Sonntag newspaper.

The newspaper noted that the company was created secretly so that the former Gazprom subsidiary could be nationalized in a short period of time. SEFE is under the protection of the Federal Network Agency of Germany.

The German Ministry of Economy and Climate Protection is also aware of the new company's establishment.

It was done in May 2022 as a precautionary measure for any restructuring measures.