Gas, Berlin nationalizes Gazprom Germany: what can happen in Italy

Gazprom Italia operates from Milan, Gazpromneft Lubricants from Rome in the lubricants market

Berlin nationalized Gazprom Germany. Today it is called Sefe, Securing Energy for Europe, and the German government has decided to take over the 100% stake on the rather tranchant motivation that the impending bankruptcy could disrupt Germany’s energy supplies.

Not only. The necessary liquidity injection will be raised to 13.8 billion euros, the Ministry of Economy said, according to reports from the Dpa agency. The step was necessary because the excessive indebtedness of the Sefe and the threat of imminent insolvency they would “put security is in danger supply in Germany

How are Gazprom’s subsidiaries in Italy? Gazprom Italy, based in Milan in via Boncompagni, on the homepage of the site recalls its mission: “Gazprom Italia SpA is the company of the Gazprom group that has been dealing with the supply of natural gas to the Italian market for almost thirty years. Our goal is to guarantee stability and competitiveness in the natural gas market in Italy, thanks to our raw material portfolio and making the most of our ten-year skills “. But there are no updates on the site that can provide information on the company’s business status. At the start of the war in Ukraine, Gazprom’s Italian turnover was around 230 million.

In Rome, on the other hand, in via Benaglia, there is the headquarters of Gazpromneft Lubricants Italy. It does not deal with gas but with lubricating oils. It was born in April 2009, when the Russian giant takes over the Apulian plant from Chevron, and operates as the Italian branch of Gazpromneft-Lubricants Ltd, a division of Gazpromneft and a subsidiary of Gazprom. The Italian site, which was regularly accessible before the summer, now automatically redirects to the Russian one Also in this case, it is difficult to find information on the company’s activities in Italy and on the repercussions that the continuing war in Ukraine is entailing.