Naturgy flags $13 billion in Russian LNG contracts
Naturgy reports that $13 billion in Russian LNG contracts may be impacted by an EU ban. The utility is considering force majeure to exit long-term agreements.
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Naturgy Energy Group, S.A.[Symbol:{ "assets":{ "symbol":"NTGY.MC" } }] has disclosed that it holds approximately 10.95 billion euros ($13 billion) in purchase commitments for liquefied natural gas (LNG) from Russia[Country:{ "assets":{ "country":"RU" } }]. These obligations may be significantly impacted by a European Union ban on Russian LNG slated to take effect in 2027. According to the company's annual report, these commitments represent nearly a quarter of its total energy purchase obligations, which are estimated at roughly 45.13 billion euros.
