UK-based Gazprom Energy is considering rebranding as a way to distance itself from its state-owned parent.
Gazprom Energy, a Russian gas supplier to British businesses, is considering adopting the name of its UK parent, GM&T, to boost its survival odds, according to reports.
The company's UK business is planning a subtle rebrand to distance itself from its Kremlin-controlled owners.
Manchester-based Gazprom Marketing & Trading, which trades at Gazprom Energy, has some 30,000 corporate customers and was in danger of collapse in March as customers shunned contracts following Russia's invasion of Ukraine.
The EU and UK imposed sanctions on Gazprom Energy's parent, the state-controlled energy giant Gazprom, at the end of February.
More than a fifth of British gas is supplied by the company, and should a buyer not be found, the government was expected to place it under special administration in order to maintain energy supply.
However, the German government has since taken control of Gazprom Germania, the parent company of Gazprom Marketing & Trading, and appointed the Federal Network Agency as trustee.
Gazprom Germania owns both storage and pipeline capacity, and is a major player in the European energy market, with subsidiaries and assets in Germany, the UK, Switzerland, Belgium and the Czech Republic.