The Foundation for the Value of Earthquakes in Groningen (WAG) stops the legal proceedings against the Nederlandse Aardolie Maatschappij (NAM). Reportedly, NAM pays 1.8 million euros in return.
Members of the foundation decided this Wednesday evening in a closed members’ meeting, writes RTV Noord † This brings an end – after more than eight years – to the mass claim against the gas and oil producer. With the claim, WAG wanted to be compensated for the decrease in the value of homes in the earthquake area.
Earlier this week, the WAG board had advised the participants to stop the claim against the NAM and to submit an application for compensation for the decrease in value to the Groningen Mining Damage Institute before this summer. The board will not comment on the amount that the NAM pays. Chairman Lolke Weegenaar told the regional broadcaster: “We have agreed with NAM that we will keep that to ourselves.”