Decision details

1.     Considered the content of the report, particularly the breakage of the link between Gazprom M&T with the Russian state, which was made by the change in ownership of the single shareholder; form the Russian Federation to Gazprom Germania on 4 April 2022.

2.     Noted the change in control of Gazprom Germania, the parent company and single shareholder of Gazprom M&T, enacted by the German Government resulting in Gazprom Germania being under the control of the German Federal Network Agency 4 April 2022.

3.     Noted that Gazprom Germania is not directly placing orders for Russian gas.

4.     Noted that Gazprom Germania is not directly placing orders for Russian gas and is prevented from doing so, should it wish to, by Russian sanctions.

5.     Noted the financial and legal risk, detailed within this paper and the paper of March 2022, associated with terminating the contract in June 2022.

6.     Instructs officers in light of the changed circumstances not to terminate the contract with Gazprom M&T on or before 30 June 2022, in line with the contract conditions.