Energy expert Laege takes over
Netzagentur keeps Gazprom Germania operational
04/08/2022, 06:38 p.m
When the Russian state-owned company wants to liquidate its German subsidiary Gazprom Germania on the sly, alarm bells go off at Minister of Economics Habeck. The Federal Network Agency is taking over and is now recruiting partners to continue regular business.
After taking control of Gazprom Germania, the Federal Network Agency is getting down to business. In its capacity as trustee of Gazprom Germania, the network agency decided that the company would appoint a general representative in addition to the existing management, the Bonn authority announced. This is the former board member of the energy exchange EEX, Egbert Laege. The energy expert, who previously worked for Eon Ruhrgas, should support the management in stabilizing the company and its subsidiaries.
Gazprom Germania is one of the largest gas suppliers in Germany. A few days ago, Federal Minister of Economics Robert Habeck handed over Gazprom Germania to the trusteeship of the Federal Network Agency until the end of September. He was reacting to the announcement by the Russian parent company Gazprom that it was giving up the subsidiary. When the ministry learned that the new owner had ordered the company to be liquidated, the network agency took over. A day later, the former parent company asked its former German subsidiary to abandon the brand name and use the brand logo.
The president of the network agency, Klaus Müller, however, campaigned for trust in the company. The continuation of Gazprom Germania’s business operations is essential for the energy supply in Germany, according to Müller’s letter to banks, business partners, service providers and customers. “It is therefore in the overriding interest of the Federal Republic of Germany that banks, service providers and business partners of Gazprom Germania GmbH continue their business relationships with it.”
Former owner disempowered: Orderly business operations ensured
The Federal Network Agency, as trustee, is using all the means at its disposal to ensure that proper business operations are ensured, Müller wrote. The network agency confirmed the dispatch of the letter. Gazprom Germania transports, sells and stores gas. This includes, for example, the country’s largest gas storage facility in Rehden, Lower Saxony.
With the trusteeship, the original owner no longer has the authority to issue directives, emphasized Müller. “As part of its trusteeship, the Federal Network Agency ensures that all payments by Gazprom Germania GmbH may only be made to maintain business operations, so that an uncontrolled outflow of funds is prevented.” At the same time, she ensures that the company can and will meet its payment obligations to maintain business operations.