Germany calls for nationalization of Gazprom Germania amid sanctions

The nationalization of Gazprom's former subsidiary, Gazprom Germania GmbH, and its subsidiaries, including Wingas, may be the preferred method amid sanctions imposed by Russia on Western companies. This was stated by the German gas market expert from the consulting firm Energy Brainpool Fabian Huneke, TASS reports.

According to him, after the cessation of gas supplies from Russia, the trading companies of Gazprom Germania found themselves under the threat of insolvency, so there was a need for state guarantees. The expert believes that nationalization is "the best way to improve market security."

Vice-Chancellor, Minister for Economic Affairs and Climate Protection of Germany Robert Habek announced the support of Gazprom Germania and promised financial guarantees, but did not talk about nationalization.

Earlier, the Gazprom group announced that it had ceased its participation in the German company Gazprom Germania GmbH and all its assets. On May 12, it became known that some subsidiaries of Gazprom Germania are not receiving gas due to the sanctions that Russia has imposed on the West.

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