Germany will spend €400 million to modernize the Rosneft refinery transferred under external management

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German authorities have approved a €400 million subsidy for a refinery in Schwedt. The money will be used to increase the capacity of the pipeline leading to the refinery, radio reported. Deutschlandfunk.

As explained by the representative of the Ministry of Economic Affairs and Climate Protection of Germany, the funds will be allocated “despite the austerity measures.” Now the German authorities must discuss this issue with Brussels, since the approval of the European Commission is necessary for the allocation of subsidies.

The company clarified that the subsidies are needed to increase the throughput capacity of the oil pipeline from the Baltic port city of Rostock to Schwedt from 6 million to 9 million tons. The managing director of the refinery, Ralf Scheirer, said that the application for upgrading the pipeline and receiving state subsidies was sent on July 7, transmits radio his words.

Rosneft owns 54.17% of the plant in Schwedt. In September 2022, the German government ordered to transfer the oil refining assets of the Russian company to the state-owned Federal Grid Agency for six months. She trying challenge it in court.

Details – in the material “Kommersant” “Refinery deviated from Rosneft”.

Laura Keffer

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