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Germany to nationalize gas importer Sefe – Spiegel Online

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BERLIN, Sept 22 (Reuters) – The German government is to nationalize gas importer Sefe, previously Gazprom Germania, to protect it from bankruptcy, Spiegel Online reported on Thursday without citing its sources.

An economy ministry spokesperson said talks on the future of Safe were ongoing. Sefe was not immediately available for comment. Germany’s energy regulator declined to comment.

The move, if confirmed, comes after the government on Wednesday agreed to nationalize Uniper (UN01.DE), the biggest importer of Russian gas, as it tries to stop an energy crisis in Europe’s biggest economy. read more

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The former Gazprom Germania has been under federal trusteeship since April to ensure the security of gas supply in Germany. read more

With assets and subsidiaries in Germany, Britain, Switzerland, Belgium, the Czech Republic and outside Europe, the firm’s activities are essential for the European gas market and supplies to industry and households.

Experts believe a nationalization is likely but say it could take weeks.

With the Uniper nationalisation, Germany is already pumping at least 40 billion euros into its three biggest Russian gas importers – Uniper, Sefe and EnBW’s VNG division. read more

The steps are part of a wider European response to the winter crisis, including France taking over EDF (EDF.PA).

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Reporting by Christian Kraemer, Rachel More and Tom Kaeckenhoff Writing by Madeline Chambers and Kirsti Knolle Editing by Paul Carrel and Mark Potter

Our Standards: The Thomson Reuters Trust Principles.

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