Off The Wire
Gazprom changes management at German Wingas in restructuring
FRANKFURT, Feb 9 (Reuters) - The managing directors of Gazprom's Wingas trading subsidiary in Germany have left the company, the Kassel-based firm said on Friday.
Wingas said in a statement on its website that Dmitry Kotulskiy and Ludwig Moehring, together with London-based Vitaly Vasiliev, were no longer at the firm. Two sources earlier told Reuters that Vasiliev had left. The note said Lavrenty Pilyagin and Slawa Margulis had taken over as managing directors of Wingas GmbH. It gave no further details.
Gazprom's marketing operations in Europe, which buys around a third of its gas from the Russian company, are undergoing structural change.
Europe's increasingly diverse supply sources and savvy customers mean Gazprom faces intense competition, and profitability in the sector has suffered.
Gazprom Germania, a Berlin-based subsidiary, last year cut staff, saying it aimed to reduce overheads and parallel structures. Wingas, which has been operating as a wholesaler since 1990, sells gas to local utilities and industry in Germany and neighbouring Europe.
It is among Germany's top suppliers along with Uniper , RWE and VNG .
(Reporting by Vera Eckert; Editing by Dale Hudson)