Germany to Nationalize Gas Importer Giant Uniper
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Germany to Nationalize Gas Importer Giant Uniper

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Antonio Gozain By Antonio Gozain | Senior Journalist and Industry Analyst - Thu, 09/22/2022 - 10:00

The German government announced it will nationalize Uniper, the country’s largest importer of Russian gas, expanding state intervention to prevent an energy shortage due to the Russia-Ukraine war.

The move builds on a €15 billion (US$14.8 billion) rescue package from July 2022 intended to stabilize Uniper, which supplies 40 percent of the natural gas used in Germany. The country’s government announced an additional US$7.9 billion capital increase to take ownership of 99 percent of the company. “The decision was made to ensure security of supply for Germany,” said Robert Habeck, German Minister of Economic Affairs and Climate.


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