Berlin’s economy minister called the decision ‘urgently necessary’ to maintain the country’s energy supply Germany has taken ownership of a local branch of Russia’s state-owned energy giant Gazprom. Berlin’s energy regulator will temporarily control the company despite Moscow’s previous insistence that such a move would be illegal.

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Global production of the fuel is also expected rise whereas supply will likely remain tight, according to the energy watchdog Gas production in Russia is expected to rise by 4% this year, according to the International Energy Agency’s (IEA) Gas Market Report published on Friday.