Germany announces bailout for Gazprom Germania to secure gas supply

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DPA

The German government said on Tuesday it plans to pump billions of euros into Gazprom Germania in order to prevent the natural gas company from going bankrupt and to secure gas supplies. The bailout will amount to between €9 and €10 billion ($9.4 and $10.4 billion), according to dpa sources. Gazprom Germania is no longer part of Gazprom after the Russian state-owned firm separated from its German subsidiary on April 1. Days later, Gazprom Germania was placed under state trusteeship by Berlin, which said it was a necessary step to maintain Germany’s gas supply. The decision to support Gazprom G…

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