The expansion of Uniper’s July rescue deal would feature a capital increase of
Uniper’s losses have mounted as
European countries have scrambled to counter the price spiral and prioritized securing their energy supplies for winter, including by filling their natural gas storage. Just last week,
The initial Uniper rescue package foresaw the government taking a roughly 30% stake in the company after Russia’s cutbacks forced it to buy gas at far higher prices on the market to fulfill its supply contracts.
Under the prospective new deal, “it is envisaged that the federal government will obtain a significant majority stake in Uniper,” said the company, which confirmed talks on a possible nationalization last week. It added that “the final agreement has not yet been concluded.”
While the government tries to stabilize Uniper, authorities say
The head of the national network regulator,
He cautioned that “nevertheless, we must continue to save" gas.
The government tightened storage requirements in July after
Before the reductions started,
Chancellor
In a separate move last Friday, his government announced that German authorities were taking control of three Russian-owned refineries to ensure energy security. Two subsidiaries of Russian oil giant Rosneft are being put under the administration of Mueller's
Rosneft accounts for about 12% of Germany’s oil refining capacity, importing oil worth several hundred million euros (dollars) every month, according to the government, which said the trusteeship was initially due to last for six months.
The network regulator already was put in charge of Gazprom's former German subsidiary in April, a decision that the government said was necessary to bring “order to the conditions” at the company after the Kremlin-controlled parent company abruptly cut ties with the unit.
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