So they finally can fire Schröder... oh he is in Rosneft already what a bummer.
Germany has seized control of Gazprom Germania
21–30 of 424 posts
Re: Germany has seized control of Gazprom Germania
#22It's nice to see Germany start working towards energy independence. I think it's a crucial factor for both national security and a faster migration to more environmentally friendly energy sources.
10 years too late... It's going to be Eldorado for US companies buying bankrupting German companies for cheap...
yes please
Re: Germany has seized control of Gazprom Germania
#23> Germany has seized control of a local unit of Russian natural-gas giant Gazprom, saying it will do 'what is necessary' to maintain energy supply in the country this action doesn't make much sense then, does it?
Some theory... GAZPROM mother sells gas to the Russian GAZPROM EXPORT OOO (the Russian version of a GmbH) in Petersburg. This sells the gas to GAZPROM Germania in Berlin. This in turn sells the gas to a large number of smaller subsidiaries with their various customers. So far, this strong division has served to minimize risks and taxes. Customers pay the gas to the subsidiaries of GAZPROM Germania in EUR/USD. These a…
Right, because people can withdraw capital like in a bad action movie and then it is just gone - nothing a state could ever do!
Re: Germany has seized control of Gazprom Germania
#24More Background, why this is in fact important: Gazprom Germania is also a critical part of the german Gas-Market, because it owns the largest gas-Storage with 1/5 of total capacity in Germany, major Gas Pipelines and Platforms for trading the ressource. This is both through Sub-companies Wingas and Astora. It also has contracts with Gazprom in Russia with guaranteed Prices and Deliveries.
Exactly what is left of value in this company; except some payrolls, offices, and some contracts which are void anyway?
Re: Germany has seized control of Gazprom Germania
#25No post body was provided.
Re: Germany has seized control of Gazprom Germania
#26> Germany has seized control of a local unit of Russian natural-gas giant Gazprom, saying it will do 'what is necessary' to maintain energy supply in the country this action doesn't make much sense then, does it?
It made sense, but it might be too late now.
The structure is rather complicated:
Afaik it works (or used to) this way:
There is Gaszprom (the Mother), Gazprom Export, Gazprom Germania and a bunch of distributors.
Gazprom sells to Gazprom Export which sells to Gazprom Germania which sells to its distributors.
This helps to evade taxes and allows for a bunch of nice management jobs to be distributed to German/Russian politicians.
The distributors pay the gas in Euro to Gazprom Germania which collects the money and sends it via Belgium to Gazprom Export.
With the Sanctions this would mean that that Gazprom Export could convert Euro to Rubles, so the Money in Belgium has been frozen.
To circumvent this Gazprom sold (or tried to) Gazprom Germania to some offshore entities out of the sanctions reach.
To hinder Gazprom to do this the German goverment tried to seize control but it might be already too late and they ended up with an empty shell.
Re: Germany has seized control of Gazprom Germania
#27I hope I one day get to visit a Russian nationalized McDonalds; just to fully grasp what deglobalization means ...
I hope they get rid of the clown.
Re: Germany has seized control of Gazprom Germania
#28I hope I one day get to visit a Russian nationalized McDonalds; just to fully grasp what deglobalization means ...
[deleted]
Re: Germany has seized control of Gazprom Germania
#29This doesn't make sense to me. Can i get an explanation?
The German state seized a local German branch of the Russian Gazprom company. In order to secure its energy supplies... which come from Russia.
Are they in essence capturing some reserves?
Re: Germany has seized control of Gazprom Germania
#30More Background, why this is in fact important: Gazprom Germania is also a critical part of the german Gas-Market, because it owns the largest gas-Storage with 1/5 of total capacity in Germany, major Gas Pipelines and Platforms for trading the ressource. This is both through Sub-companies Wingas and Astora. It also has contracts with Gazprom in Russia with guaranteed Prices and Deliveries.
Exactly what is left of value in this company; except some payrolls, offices, and some contracts which are void anyway?
the stored gas and the storage facilities, I gather.