OGZPY PJSC Gazprom (PK)

By Georgi Kantchev

BERLIN--The German government will temporarily take control of a key unit of Russian state-owned natural gas giant Gazprom PJSC in Germany in a bid to secure gas deliveries as tensions between Russia and Europe over energy supplies continue to grow.

Economy minister Robert Habeck said Monday that the Federal Network Agency would become a trustee of Gazprom Germania GmbH until Sept. 30. The move comes after Gazprom on Friday announced that it was exiting its business in Germany without elaborating.

"The arrangement of the trust administration serves to protect public safety and order and to maintain the security of supply," Mr. Habeck said at a press conference. "This step is urgently necessary."

Write to Georgi Kantchev at georgi.kantchev@wsj.com

(END) Dow Jones Newswires

April 04, 2022 11:39 ET (15:39 GMT)

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