| Dutch court: gas producer NAM must compensate homeowners in quake zone | |
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AMSTERDAM, Sept 2 (Reuters) - A Dutch court on Wednesday ruled that gas producer NAM must compensate homeowners for falls in their property values due to earthquakes linked to gas production in the Groningen field in the north of the Netherlands. The ruling by the court in Assen could result in billions of euros of claims against NAM, a joint venture between Shell and ExxonMobil. The ruling specified that homeowners do not have do demonstrate their property has suffered physical damage, but only that its value has been affected by its location in the quake area. NAM has so far set aside 1.2 billion euros ($1.35 billion)for compensation for damaged buildings. Estimates of the possible cost to compensate homeowners and strengthen buildings in the affected region are far higher. ($1 = 0.8862 euros) (Reporting by Toby Sterling; Editing by Kevin Liffey)
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