German gas importer VNG seeks help from government
BERLIN (AP) — German gas importer VNG is seeking help from the government after cuts to Russian gas supplies forced it to buy gas at far higher prices on the market to fulfill its supply contracts. Energy company EnBW, which has a majority stake in VNG, said Friday that its subsidiary is submitting an application for “stabilization measures” to the Economy Ministry. EnBW says VNG supplies gas to about 400 municipal utilities and industrial operators and met about 20% of German gas requirements last year. The move comes after the government in July announced that it would take a roughly 30% stake in German gas importer Uniper as part of a rescue package.