On Monday, May 2, the United States Department of the Treasury published a license to deal with Gazprom Germania GmbH. The permit will last until September 30, 2022.
The license is extended to all structures owned by Gazprom Germania GmbH by 50% or more. The company is subject to sanctions imposed by Western politicians related to the placement of new debt obligations and the issuance of shares.
“Except as provided in paragraph (b) of this general licence, all operations related to Gazprom Germania GmbH or any legal entity in which Gazprom Germania GmbH owns, directly or indirectly, 50 percent or more of the shares, which are prohibited by Directive 3 pursuant to with Executive Order 14024, Prohibiting New Debt and Equity of Certain Russian-Related Entities, is effective until 12:01 pm EDT on September 30, 2022,” the document reads.
Gazprom Germania GmbH, which is the operator of several large gas storage facilities in Germany, was formerly owned by Gazprom Export. It includes the distribution company Wingas, the operator of Astora underground gas storage facilities, as well as the trading division Gazprom Marketing & Trading, which includes the retail operator Gazprom Marketing & Trading Retail Ltd (Gazprom Energy brand) and the global LNG trader Gazprom Global LNG.
On April 4, the German Ministry of Economics temporarily transferred Gazprom Germania under the trusteeship of the German Federal Network Agency. German Economy Minister Robert Habeck then said that it would be implemented until September 30 and this is a temporary adjustment.
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