Gazprom recalling own managers, brand from Gazprom Germania assets

MOSCOW. April 5 (Interfax) - Gazprom is recalling its own managers and brand from Gazprom Germania assets, the Russian gas giant said in a statement.

"In connection with the termination of the Gazprom Group's participation in German company Gazprom Germania GmbH on March 31, 2022, we announce the following: GAZPROM Germania GmbH, its subsidiaries, including Gazprom Marketing & Trading Ltd., as well as investment assets must stop using the trademarks of "Gazprom", including in the names and corporate symbols, in order to avoid further identification of their activities with the Gazprom group. The Gazprom group also withdraws its representatives from the management bodies of GAZPROM Germania GmbH, companies under its control and investment assets," it said.

Gazprom said last week that it no longer controlled Gazprom Germania and all of its assets, including distributor Wingas/WIEE and storage facility operator Astora. The Gazprom Marketing & Trading group also includes Gazprom Marketing & Trading Retail Ltd. (Gazprom Energy brand) and liquefied natural gas (LNG) trader Gazprom Global LNG.

The owner of Gazprom Germania GmbH, Gazprom Export Business Services LLC, passed from the sole ownership of Gazprom Export LLC to Palmary JSC (0.1%) and Gazprom Export Business Services LLC (99.9%).

Germany's Economic Affairs Ministry has not approved the deal and the German authorities deny its legitimacy. The ministry has ordered that control of Gazprom Germania be handed over to the country's Federal Network Agency until September 30 in connection with this. Shareholders will not be able to vote with the shares of Gazprom Germania - the right to vote with them passes to BNetzA. The manager will have the right to dismiss and reappoint members of the board, as well as give instructions to the board. The authority to manage the assets of Gazprom Germania GmbH is limited and subject to approval by the Federal Grid Agency.