On Tuesday 14 June, the German federal government announced that its trusteeship of Gazprom Germania will be extended beyond September 2022.
In addition, KfW, Germany’s state-owned investment and development bank, will provide Gazprom Germania and its subsidiaries with a loan to protect it from financial difficulties caused by sanctions implemented by the Russian Federation against Gazprom Germania and its subsidiaries. The loan will be used to secure operations and stabilise the energy supply landscape in Europe and will not flow to Russia (so called ring-fencing).
This is a strong sign of confidence in our group of companies and underlines our importance in the market and ability to create value.
Gazprom Germania GmbH will be renamed and operate under the name “SEFE Securing Energy for Europe GmbH” (SEFE). This change illustrates our repositioning and the goal of playing a long-term role in securing energy supplies in the market. The subsidiaries of Gazprom Germania that currently use Gazprom trademarks will also be renamed in the near future.
Read the full press release on the Federal Government’s website here (English version available here).
For Gazprom Energy and our parent company Gazprom Marketing & Trading (GM&T), which is 100% owned by SEFE, these measures taken by the German government are a strong sign of confidence in our ongoing business operations. We sincerely believe these major new developments now give all our customers and other stakeholders the full reassurance they have been looking for in terms of our financial security and future reliability as a commercial partner.
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