Gazprom Energy now under the trusteeship of Germany's Federal Network Agency

Today, 4 April 2022, the German Ministry of Economy announced that, in response to the transfer of control of Gazprom Germania GmbH (GPG) announced by Gazprom Group on 1 April, the shares in GPG are now under the trusteeship of the German Federal Network Agency (BNetzA) until 30 September 2022.

Read the full press release on the Ministry's website here.

This means that all voting rights in the shares of GPG are removed from the shareholder and transferred to the German state, making the German state the de facto controller of GPG and all its subsidiaries, including our immediate parent company Gazprom Marketing & Trading (GM&T) and therefore Gazprom Marketing & Trading Retail Ltd (Gazprom Energy) based in Manchester, UK - which also operates the Gazprom Energy branch in the Netherlands - and GM&T France SAS (part of which operates as Gazprom Energy).

This completely removes, with immediate effect, any concerns about the viability and future of GM&T and its subsidiaries (including Gazprom Energy) since ultimate control is now held indirectly by the German state and not by PJSC Gazprom. Given GM&T’s operational and financial independence from PJSC Gazprom, there are no adverse financial or other implications from the actions of the German government.

We will communicate further and as soon as possible on practical steps which will be taken on matters such as rebranding.  In the meantime, we would like to thank all the customers, suppliers and employees who have supported us and continued to work with Gazprom Energy since the end of February. 

Any press enquiries can be submitted via our contact us page or emailed to media@gazprom-energy.com.

If you're a Gazprom Energy customer and you have a question about what this means for you, please visit the ownership FAQs page in our help and support section.