German government buys 30% of Uniper
The gas supplier Uniper is in trouble due to reduced deliveries from Russia.
The federal government wants to support the group. / German government buys 30% of Uniper
The federal government has decided on a rescue package for the ailing energy company Uniper
According to Scholz, Uniper is of “outstanding importance” for the German gas supply. That is why the federal government decided to take a 30 percent stake in the group. The corresponding shares are purchased at a nominal value of EUR 1.70.
As the dpa news agency learned from government circles, a credit line via the state development bank KfW is to be increased from two to eight billion euros. The federal government is participating in Uniper’s equity through KfW, it said – that means the federal government is investing in the company. The solution of a spin-off of the German business is off the table.
The federal government wants to take over 30 percent of Uniper
Uniper had applied for state aid and recently announced that it had now fully utilized an existing credit line from the state development bank KfW in the amount of two billion euros. According to company boss Klaus-Dieter Maubach, daily funds in the mid double-digit million range flow out at Uniper.
It is conceivable that the federal government will decide on a surcharge for all gas customers as part of the rescue package for Uniper, so that the supplier can pass on price increases and thus get some breathing space again.
The company has to buy more expensive gas on the market to fulfill contracts because of the cut in Russian supplies via the Nord Stream 1 pipeline in the Baltic Sea. This leads to liquidity problems.
Russian deliveries still uncertain
Russian gas has been flowing through Nord Stream 1 to Germany again since Thursday morning. However, the quantity is still well below the contractually agreed deliveries. Even before the scheduled maintenance, Gazprom had cut back deliveries.
A missing turbine was cited as the reason for this. This has now been transported from Canada to Germany. But now the papers for onward transport to Russia are missing. “The turbine as an explanation for throttled gas supplies was a pretext for Russia – the evidence is growing, said economics and energy expert Veronika Grimm in an interview with t-online.
Nord Stream 1: Gas delivery resumed
Von der Leyen thinks Russian gas will be cut off
Putin threatens to cut gas from Nord Stream 1
