German utility VNG pauses arbitration claim against Gazprom, Bloomberg News reports

Eastern German gas company VNG, majority-owned by utility EnBW EBK, has suspended its legal action against Russia's Gazprom GAZP as the prospect of recovering funds dims, Bloomberg News reported on Thursday, citing people with knowledge of the matter.

VNG, which previously sourced most of its gas from Gazprom, joins other firms putting legal actions on hold, the report said.

High legal fees provide another reason for the suspension, the report added.

Reuters could not immediately confirm the report.

VNG declined to comment. Gazprom could not be immediately reached.

Uniper UN0, which has been locked in a bitter legal tussle with former main gas supplier Gazprom, said last month it recouped additional claims during the first quarter.

Uniper scored a major legal victory last year when an arbitration tribunal awarded the group more than 13 billion euros ($15.22 billion) in damages for the gas volumes not supplied by Gazprom since 2022.

($1 = 0.8543 euros)