United Kingdom

Energy crisis. : UK prepares to buy Gazprom arms for taxpayers 4 4 billion – report | Great Britain |: news

The ministers are reportedly working on plans to take over control of Gazprom Marketing & Trading Retail (GM&T). The move could take place this week, said a source in the industry.

GM & T, whose ultimate parent is Russian state-owned Gazprom, was nominated in March as the UK’s leading candidate for Special Operations Mode (SAR).

The unit, which operates as Gazprom Energy, supplies one-fifth of Britain’s commercial gas and serves thousands of customers, including the NHS.

It supplies more than 20 percent of the gas used by British companies, although a growing number have reportedly abandoned it in recent weeks.

It was reported last month that Gazprom Energy was trying to find a buyer to prevent the collapse as many large customers tried to pull out of multimillion-pound contracts in response to Russia’s invasion of Ukraine.

The deployment of Gazprom Energy in Ofgem SAR will make it the second utility company to be rescued by UK taxpayers.

Expenditures estimated by the Budget Accountability Office at 21 1.2 billion in 2021-22 and և միլի 1 billion in 2022-23.

Last month, Bloomberg News reported that the value of Gazprom Energy’s public wallet, which trades in existing supply contracts, is estimated at around միլի 4 billion.

An energy official told Sky News that he was not yet convinced that Gazprom Energy should become public property, but added that its fate lay in discussions between the company and its Citi clearing bank.

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“Given its significant role in both energy trading and B2B energy retail, GM & T is fully aware of the material impact we have on the UK և European financial և energy markets և and consequently the economy.”

The company says it is “firmly committed” to mitigating any adverse effects, working closely with British energy regulator Ofgem and other UK government agencies to manage those risks.

The government spokesman said. “Great Britain is in no way dependent on Russian gas, which makes up less than 4% of our supplies.

“Our very diverse sources of gas supply – the diverse mix of electricity – ensure that households, enterprises, and heavy industry get the energy they need.

“We are aware that Gazprom Energy has a large presence in the non-domestic retail market of energy sources.

“Enterprises’s organizations must exercise their own commercial judgment in relation to the power supply contracts they currently have.”

Contact Citi for comment.

The news comes as the government plans to unveil its energy security strategy, which is set to be released this month.

One of the issues under discussion is the future of freaking, whether the moratorium should remain.

Downing Street argues that the situation in Ukraine means considering all options for increasing Britain’s energy independence.

The speaker of No. 10 said. “Our common position on Frecking has not changed, the cessation of shale development remains in place.

“But, of course, it is right that we consider all our options that will inform the energy security strategy.”



Energy crisis. : UK prepares to buy Gazprom arms for taxpayers 4 4 billion – report | Great Britain |: news

Source Energy crisis. : UK prepares to buy Gazprom arms for taxpayers 4 4 billion – report | Great Britain |: news

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