Russia's Gazprom exits German business as pricing
scuffle continues
By Reuters
Updated
1413 GMT (2213 HKT) April 1, 2022
These maps
show how natural gas is behind Russia's power
Russian
energy giant Gazprom said on Friday it was exiting its business in Germany,
amid a dispute between the two countries over Moscow's insistence on switching
payments for Russian gas to rubles from euros.
It was not
immediately clear how the move would affect the supply of Russian gas, on which
Germany depends for about 40% of its needs.
The company
said it had terminated its participation in Gazprom Germania and all of its
assets, including Gazprom Marketing & Trading. It provided no further
details or explanation.
Europe
rejected Putin's ultimatum. So why is Russian gas still flowing?
Europe
rejected Putin's ultimatum. So why is Russian gas still flowing?
German
business daily Handelsblatt reported on Thursday that the German economy
ministry was considering expropriating the Gazprom and Rosneft units in the
country amid concerns about the security of energy supplies.
The Kremlin
said on Friday that any such move would be a violation of international law.
Gazprom
Germania is based in Berlin and its only shareholder is Gazprom Export, a
wholly owned subsidiary of Gazprom.
The German
entity has subsidiaries including in Switzerland and the Czech Republic.
It lists
its main business areas as storage, trading, and supply of gas as a fuel for
road transport and shipping, with a network of filling stations in Germany and
the Czech Republic.
Russian
President Vladimir Putin signed a decree on Thursday to impose ruble pricing
for gas on buyers from what Moscow considers unfriendly countries. Germany
rejects the change, and its economy minister said on Thursday it would not be
"blackmailed by Putin."
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