Reuters: Germany gives E.ON credit guarantees to strike LNG deals - source

Germany is providing multi-billion-euro financial guarantees to help its biggest utility E.ON strike long-term gas import deals, a source with direct knowledge of the matter said, as the country seeks to reduce its dependence on Russian supply.

Germany meets around 40 percent of its gas demand through imports from Russia, but relations between the two countries have deteriorated since a crisis erupted in Ukraine in February.

Parliamentarians passed a 2 billion euro ($2.7 billion) Untied Loan Guarantee of the Federal Republic of Germany (UFK) for E.ON last year to jump-start development of the Goldboro liquefied natural gas export project on Canada's east coast, the source told Reuters.
MORE