Naturgy's Chilean Subsidiary Metrogas Received First Instance Sentence on TGN Lawsuits
05 Agosto 2022 - 11:30AM
Dow Jones News
By Giulia Petroni
Naturgy Energy Group SA on Friday said that its Chilean
subsidiary Metrogas SA received a first instance conviction
sentence for a series of lawsuits filed by Transportadora De Gas
Del Norte that could have an impact on its financial results.
The Spanish utility said it expects the potential impact to be
limited, but a detailed analysis will be carried out in the coming
days. It therefore postponed the release of its first-half results
to Aug. 11.
The lawsuits originated in 2009, when Argentina stopped
supplying gas to Chile due to decisions beyond Metrogas's control,
Naturgy said. Metrogas was condemned to pay TGN for bills and
profit losses, as well as costs and interests linked to a
gas-transport contract that was affected by the energy crisis
between the two countries.
Naturgy holds a 55.6% interest in Metrogas.
The ruling isn't final and Metrogas will exercise its right to
appeal the court's decision, according to Naturgy.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
August 05, 2022 10:15 ET (14:15 GMT)
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