Support The Moscow Times!

Novatek in German Talks

FRANKFURT — German utility EnBW is offering Novatek a stake of up to a quarter in natural gas supplier Verbundnetz Gas, or VNG, Handelsblatt reported.

EnBW, short for Energie Baden-Württemberg, holds an option to buy 48 percent in VNG. EnBW is also mulling transferring the remaining stake in VNG to a joint venture with Novatek.

EnBW is under political pressure not to sell the entire stake to Novatek because that would effectively mean putting VNG under Russian control, since Gazprom already holds 10.5 percent in VNG. Talks are at an advance stage, Handels-blatt said. Stuttgarter Zeitung reported this week that Novatek was negotiating a cooperation deal worth 800 million euros ($1.1 billion) with EnBW.


… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more