{"id":520856,"date":"2022-09-09T18:11:47","date_gmt":"2022-09-09T12:41:47","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=520856"},"modified":"2022-09-09T18:11:47","modified_gmt":"2022-09-09T12:41:47","slug":"german-gas-importer-vng-to-apply-for-state-aid-as-energy-crisis-intensifies","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/german-gas-importer-vng-to-apply-for-state-aid-as-energy-crisis-intensifies\/","title":{"rendered":"German gas importer VNG to apply for state aid as energy crisis intensifies"},"content":{"rendered":"<p>VNG, one of Germany&#8217;s biggest importers of Russian gas, will on Friday ask the German government for aid to keep going and absorb accumulating losses the group has incurred as a result of lower deliveries from Moscow, parent EnBW said.<\/p>\n<p>VNG, which is 74.21 per cent-owned by German utility EnBW, has two long-term Russian gas contracts with a volume of 100 terawatt hours (TWh): one with Nord Stream 1, which is majority-owned by Gazprom, and one with Gazprom Germania, which has been under German trusteeship since April.<\/p>\n<p>EnBW has said the total potential damage from these two contracts &#8220;lies in the low single-digit billion euro range&#8221;.<\/p>\n<p>&#8220;The measures are directed at absorbing the currently accumulating significant losses from the replacement procurement of natural gas and at enabling business operations to continue,&#8221; said EnBW in a statement.<\/p>\n<p>&#8220;Ongoing talks between VNG AG with its shareholders and the Federal Government on options for stabilisation of the company continue in parallel,&#8221; it added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>VNG, one of Germany&#8217;s biggest importers of Russian gas, will on Friday ask the German government for aid to keep going and absorb accumulating losses the group has incurred as a result of lower deliveries from Moscow, parent EnBW said. VNG, which is 74.21 per cent-owned by German utility EnBW, has two long-term Russian gas contracts with a volume of 100 terawatt hours (TWh): one with Nord Stream 1, which is majority-owned by Gazprom, and one with Gazprom Germania, which has been under German trusteeship since April. EnBW has said the total potential damage from these two contracts &#8220;lies in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-520856","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/520856","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=520856"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/520856\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=520856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=520856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=520856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}