E.ON gets state backing for LNG deals

Germany, that meets about 40% of its gas demand by Russian imports, is providing multi-billion euro financial guarantees to E.ON, which is looking to sign LNG import deals with a number of suppliers.

Last year, E.ON received a 2 billion euro Untied Loan Guarantee of the Federal Republic of Germany (UFK) to start developing the Goldboro LNG project, sources familiar with the matter told Reuters.

The country’s largest utility is in talks with Anadarko, to buy stakes in LNG export project in Mozambique, as well as Peru and Colombia LNG developers in South America.

E.ON is also looking into LNG projects in the Mediterranean, using the guarantee as a bait.

LNG World News Staff, August 21, 2014; Image: E.ON