BERLIN, Sept. 9 (Xinhua) -- After Germany's largest gas importer Uniper was rescued from insolvency by the government in July, the country's third largest gas importer VNG also applied for state aid due to soaring energy prices, the company said on Friday.
As was the case for Uniper, VNG had to procure gas volumes at "significantly higher prices" on the energy markets to fulfill supply contracts, the company said.
Since the start of the Russia-Ukraine conflict, gas prices in Europe have tripled as supplies to Germany via the Nord Stream 1 pipeline were repeatedly reduced. Last week, Gazprom cut off supplies altogether, blaming an oil leak at a turbine.
Two gas contracts of 65 and 35 terawatt hour equivalents were affected by the Russian supply disruptions, according to VNG. The company was still able to bear the additional costs of 1 billion euros (1 billion U.S. dollars) for the smaller contract, but no longer those for the larger one.
"To avert further losses for VNG and to enable the VNG Group's business operations as a whole to continue, VNG sees itself compelled to apply for further supporting measures," the German gas importer said.
At the end of August, VNG and eleven other gas suppliers already registered claims for payments from funds to be collected under a new gas levy to be charged to consumers between October 2022 and March 2024.
Besides Uniper and VNG, the companies in question also included RWE Supply & Trading GmbH and SEFE, the former Gazprom Germania GmbH, making total claims of 34 billion euros, according to the country's gas market operator Trading Hub Europe (THE).
In July, the German government took a 30 percent stake in Uniper, granting the company a comprehensive support package worth 15 billion euros in total.
"Uniper plays a central role in Germany's supply of gas and electricity," the Ministry for Economic Affairs and Climate Action (BMWK) said then. The stabilization package would make a "key contribution towards safeguarding Germany's energy supply." (1 euro = 1 U.S. dollars) ■
