Nationalization as a last resort at VNG and Rosneft?

Wduring the planned gas surcharge comes to a standstill, the federal government wants to help the ailing energy companies by taking a direct stake in them. This was reported by various media on Thursday, without confirmation from the federal government or the companies involved.

On Wednesday, natural gas importer Uniper announced that the government could become the majority shareholder through a capital increase; as part of an initial rescue operation, only 30 percent federal participation was initially agreed. The finance agency reported on Thursday Bloomberg, Berlin may also get involved with the gas wholesaler VNG. In fact, the Leipzig company had submitted an application for state aid in the past few weeks. So far, however, there has been no talk of a capital investment along the lines of Uniper.

Who takes care of VNG?

VNG is the third largest German gas importer. According to its own statements, it covers a fifth of the gas requirements in Germany and supplies 400 municipal utilities and industrial customers. Almost three quarters of the company belongs to the Karlsruhe energy supplier EnBW, in which Baden-Württemberg holds almost 47 percent. Unlike Uniper, which until now has been majority-owned by the Finnish state via the Fortum Group, only a minority stake by the federal government is being discussed for VNG; In any case, EnBW should remain in charge.

prime minister Winfried Kretschmann (Greens) from Stuttgart is said to be rejecting state aid for VNG. However, he recently said that EnBW should “substantially” participate in a solution in Saxony. EnBW did not want to deny or confirm the possibility of a federal investment in the subsidiary on Thursday. A spokeswoman said there was no information about ongoing talks. The Federal Ministry of Economics of Robert Habeck (Greens) made a similar statement.

Source link