Germany may nationalize Uniper amid crisis
Germany is considering the nationalization of the largest German gas distributor Uniper against the backdrop of an aggravated energy crisis, writes Bloomberg.
Rising natural gas prices and reduced supplies from Russia resulted in Uniper (ETR:UN01) millions of dollars in daily losses. Once the decision is made, the government’s stake in Germany’s largest gas importer could exceed 50%.
In July, the company requested assistance from the German government, which resulted in the transfer of a 30% stake in Uniper to the country.
In August this year, it was reported that Uniper reported a loss of 12.4 billion euros ($12.6 billion) in the first half of the year due to the fact that it had to buy gas on the spot market at sky-high prices to make up for the lack of cheaper Russian gas.