Energy companies in trouble: is the next nationalization imminent?

Created: 09/22/2022, 15:13

By: Sandra Kathe

The Russian gas supply freeze has put many companies in trouble.

(symbol photo) © Sina Schuldt/dpa

According to media reports, in addition to the gas importer Uniper, the Gazprom subsidiary Sefe is now also to be nationalized.

Berlin – After the takeover of the gas importer Uniper by the federal government, the nationalization of the Berlin Gazprom subsidiary Securing Energy for Europe (Sefe) is now likely to be imminent.

The

reports , citing an unknown source.

The former Gazprom Germania has been under federal trusteeship since the beginning of April, but according to information from the

news agency, this is due to expire at the end of September.

As

reports, the planned nationalization of Sefe is primarily related to the rescue measures for the Leipzig-based EnBW subsidiary VNG, which has gotten into trouble.

At the beginning of September, the company referred to the Energy Security Act and applied for state aid.

The background to this is the exploding gas prices as a result of the Ukraine war, which have been causing large losses for gas importers for months.

After the nationalization of Uniper: Habeck pledges support for gas importers

The news comes just a few hours after the confirmation that the gas importer Uniper, based in Düsseldorf, will be almost completely taken over by the federal government.

According to information from the

, Uniper is planning a capital increase worth around eight billion euros and the purchase of all shares in the Finnish energy company Fortum by the federal government for a further 480 million euros, so that Germany will hold almost 99 percent of the company’s shares.

The takeover of the federal government also includes the replacement of a credit line from Fortum.

This consists of a shareholder loan of four billion euros and a so-called guarantee line of four billion euros.

In the context of the Uniper takeover, Federal Economics Minister Robert Habeck (Greens) had already promised the other large gas importers support if necessary and emphasized that the state would do “everything necessary” “to keep the companies stable on the market”: That applies in addition to Uniper also “for the other large, systemically important companies in Germany.”

Planned Sefe takeover: Ministry confirms talks about Sefe's future

When asked by

about the allegedly planned takeover of Sefe, a spokeswoman for the Ministry of Economics said that there were talks within the federal government about the future of Sefe.

She cannot provide any further details at this time.

(ska with dpa/AFP)