Energy supplier CNG Group will reportedly stop supplying gas to its business customers.

The company, which is backed by Anglo-Swiss commodity trading giant Glencore, is a gas supplier for SMEs and also provides shipping services.

Three weeks ago, it had been reported that the company appointed Interpath Advisory to explore its options amid the surging wholesale energy prices.

According to Sky News, Interpath Advisory has set a Friday deadline for bids for the SME supply division of CNG Group.

CNG Chief Executive Paul Stanley reportedly said that “the company has been forced into an impossible position” after many of its utility customers went under amid the energy crisis.

Mr Stanley told ELN: “CNG continues to work collaboratively with all parties in the industry to try to find the best way forwards in these difficult circumstances and I am proud of the CNG staff for their incredible professionalism as they continue to support our customers at this difficult time.”