German network agency organises ongoing Gazprom Germania operations

Germany's network regulator on Friday said it would ensure that Gazprom Germania, an energy trading, storage, and transmission business abandoned by Russia's Gazprom and brought under regulator control on April 4, will carry on its vital operations in the gas market. "In its role as fiduciary, the Bundesnetzagentur will ensure that all payments of Gazprom Germania GmbH may only be made to maintain business operations and will thus prevent an uncontrolled outflow of funds," said a letter to operators connected with Gazprom Germania and seen by Reuters.

"It will also ensure that the company can, and will, meet its payment obligations to continue its business operations," it added.