Germany Nationalizes Gas Giant Amid Energy Crisis
View Source | September 21, 2022 11:04 am
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- Germany is to nationalize gas giant Uniper in an effort to secure energy supplies amid the war in Ukraine.
- The deal will see the German government take on a 98.5% stake in the firm at a cost of €8.5bn (£7.4bn).
- Germany is Europe’s biggest importer of Russian gas, and has been particularly squeezed as Russia has reduced supplies in recent months.
- Chief executive Klaus-Dieter Maubach said the deal would help Uniper’s role as “a system-critical energy supplier.”
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