European Power Companies Demand Subsidies as Russian Gas Is Cut Off From Most of Europe

Pipes at the landfall facilities of the 'Nord Stream 1' gas pipeline are pictured in Lubmin, Germany, on March 8, 2022. Hannibal Hanschke/Reuters

European energy companies are requesting at least 1.5 trillion euros in government liquidity to cover their margin calls following Russia’s cut-off of gas supplies to Europe which caused costs to soar, according to Norway’s utility firm Equinor.

Firms in Britain were not included in the Norwegian power company’s estimates.