Germany agrees to bail out Uniper with a 15-billion-euro rescue deal, as it becomes the first major casualty of Russia’s natural gas squeeze.
Russian gas supplies to Europe have fallen since its unprovoked invasion of Ukraine earlier this year — and the subsequent sanctions placed on Moscow by the West.
Uniper has received only"a fraction of its contracted gas volumes" from Russian gas giant Gazprom since mid-June.This has had severe consequences for Uniper's financial position.with a 15-billion-euro rescue deal, as the embattled energy company becomes the first major casualty of Russia's natural gas squeeze.
earlier this month. As Germany's biggest importer of gas, it has been hit hard by vastly reduced flows via pipelines from Russia, which has sent prices soaring.
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Uniper rescue plan takes shape, with price rises possibleThe German government plans to take a 30% stake in Uniper and will allow the utility to pass on some energy costs to customers as part of a bailout package that sources told Reuters could be finalised this week.
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German government agrees on bailout for energy supplierBERLIN (AP) — The German government will take a roughly 30% stake in energy supplier Uniper as part of a rescue package following surging prices for natural gas and reduced Russian deliveries, the company said Friday.
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Uniper rescue plan takes shape, with price rises possibleThe German government plans to take a 30% stake in Uniper and will allow the utility to pass on some energy costs to customers as part of a bailout package that sources told Reuters could be finalised this week.
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EXPLAINER: Can Europe live without Russian natural gas?Europe is bracing for the possibility that a key pipeline that brings natural gas from Russia to Germany won’t reopen as scheduled after routine maintenance. That’ll mean problems, even if it opens at reduced levels. Here’s what to know.
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