November 29 (SeeNews) - Slovenian wholesale natural gas supplier Geoplin's said on Tuesday it plans to launch legal actions against Gazprom due to the Russian company's failure to meet its gas delivery obligations, Geoplin said.
The shareholders of Geoplin gave their consent to the launch of legal actions, as adverse financial effects from Gazprom's violation of contractual obligations have caused damages to the company, the Slovenian gas supplier said in a filing with the Ljubljana Stock Exchange.
Geoplin calls on Gazprom to resolve the breach of the contract and provide compensation for the resulting damages, it added.
Earlier this month, Geoplin signed a deal with Algerian state-owned oil company Sonatrach for deliveries of natural gas from January 1, 2023 until December 31, 2025. According to Slovenian media reports, the contract envisages the purchase of 300 million cubic meters of natural gas per year - enough to cover about a third of Slovenia's needs.
At their meeting on Monday, the shareholders of Geoplin also estimated that, in the current market circumstances, a recapitalisation of the company is not necessary, the company added.
In September, the majority shareholder in Geoplin, Slovenian energy group Petrol [LJE:PETG], said a decision on additional capital payment will be made by the owners after examining the presented scenarios and calculations.
Geoplin, together with state-owned electricity producer Holding Slovenske Elektrarne (HSE) and energy group Gen-Energija, will also receive a state guarantee of up to 400 million euro for obligations arising from transactions on the electricity market or gas purchases outside the EU, local broadcaster RTV reported.
($ = 1.0388 euro)
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