Two Gazprom affiliates taken over in Poland and Germany
In response to Russia's invasion of Ukraine, the Polish government has temporarily taken over Gazprom's interests in EuRoPol Gaz, the firm that owns the 33 bcm/year, 684 km Polish portion of the Yamal-Europe gas pipeline, which is operated by Gaz System. EuRoPol Gaz is owned by the Polish state-owned gas group PGNiG (52%, including 4% through its subsidiary Gas-Trading) and Gazprom (48%). Polish legislation allows the government to temporarily place a sanctioned enterprise into receivership.
The German government plans to nationalise gas importer Securing Energy for Europe (SEFE, ex Gazprom Germania). Gazprom Germania was put under Germany’s state trusteeship in April 2022 and secured close to €10bn in state-backed credit lines to ensure the country’s energy supply. Wingas, an affiliate of SEFE, is one of the largest gas suppliers in Germany with a market share of 20%.
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