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EnBW: discusses compensation, not billions of state aid for VNG

Reuters
Updated ·1 min read

FRANKFURT, Nov 22 (Reuters) - Struggling gas trader VNG and Berlin continue to be in constructive talks about compensation in light of halted Russian gas supplies but are not discussing a state aid package worth several billions of euros, VNG's parent EnBW said.

Reuters on Monday reported that VNG, which applied for state aid in September was nearing a rescue package possibly worth a mid single-digit billion euro amount, citing people familiar with the matter.

"Various measures are being discussed, although neither nationalisation nor state aid amounting to a mid-single-digit billion euro sum are currently being discussed," EnBW said in an e-mailed statement.

"Rather, the aim is to ensure that VNG is partially compensated for the expenses it has borne to ensure security of supply and otherwise bears any losses incurred from its own resources and together with its shareholders." (Reporting by Christoph Steitz Editing by Paul Carrel)