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Gazprom Exits German Unit Without Disclosing New Ownership

  • Move by Russian gas giant also includes the U.K. trading arm
  • Gazprom trading arm is working with Ofgem to manage U.K. risk
Fuel Prices And Sales At NIS Gazprom Neft Gas Stations In Serbia

Photographer: Oliver Bunic/Bloomberg

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Russian energy giant Gazprom PJSC said it has exited its German subsidiary, which owns several storage facilities across the country, the company’s trading arm in the U.K. and units from Switzerland to Singapore.

The gas producer no longer owns Gazprom Germania GmbH and all of its units, including London-based Gazprom Marketing & Trading, it said in a statement on Friday, without disclosing a new ownership structure. Separately, the trading arm said it wasn’t in a position to comment on the new ownership, but added it was working with regulator Ofgem to mitigate risks to the U.K. market.