BERLIN (Pakistan Point News / Sputnik - 08th July, 2022) The German authorities are considering providing German gas company VNG with 2 billion Euros ($2.03 billion) in the event of facing issues, German newspaper Handelsblatt reported on Thursday, citing sources familiar with the matter.
VNG did not comment on the matter.
The German Federal Ministry for Economic Affairs and Climate Action confirmed on July 1 that it was holding talks with German energy giant Uniper, which has been facing issues due to the energy crisis.
Uniper earlier announced the withdrawal of its FY2022 forecast on Adjusted EBIT and Adjusted Net Income due to the reduction in Russian gas supplies from the Gazprom energy company. Since June 16, Uniper has received only 40% of the contracted gas from Gazprom. At the same time, gas purchased to replace missing supplies is being procured at much higher prices, which affects the financial results.
According to the ministry, Uniper still has a chance of receiving 2 billion euros in loan. German media reported earlier this week that the German government was mulling procurement of Uniper shares; however, there is no official confirmation of this information.
