The former German “daughter” of “Gazprom” needs € 5 billion to replace undelivered gas from the Russian Federation
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SEFE Managing Director Egbert Lage said that the company lacks €5 billion to replace undelivered Russian gas. SEFE is the former German subsidiary of Gazprom, Gazprom Germania GmbH.
“Gas supplies have already decreased. With the sanctions, we then lost everything: both pipeline gas and liquefied natural gas. According to the current state, a little more than €4 billion is needed to maintain the liquidity of the company, and just over €5 billion to ensure the replacement of undelivered Russian gas,” said Mr. Laege Der Spiegel (quoted from TASS).
The SEFE director did not rule out that the company will need more government assistance, as gas purchase prices are higher than originally calculated. “So securing supplies, which is our main goal, will probably cost more than we thought,” he added. SEFE believes that the money can be sent to it after the gas fee begins to operate in Germany from October 1. Previously, the state-owned banking group KfW has already allocated €9.8 billion to SEFE to keep the operation going.
Gazprom has ceased to control its German subsidiary since April 1. After that the company was transferred under the control of the Federal Network Agency.
About the losses of German importers due to the fall in gas supplies from the Russian Federation – in the material “Kommersant” “The gas meter made billions”.
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