Uniper in need of billions of euro
German gas company Uniper is requesting an additional EUR 4bn from Germany’s federal government, writes French news agency AFP.
Once again, disruptions in the deliveries of Russian gas and soaring prices are adding to the financial pressure.
And it isn’t the first time the gas outfit asks the federal government for a bailout.
As recently as July, the German federal government bought a 30% stake in the ailing company in connection with an extensive bailout package.
”The rescue of Uniper is important because there is no business that wouldn’t be affected by the company’s collapse,” noted Chancellor Olaf Scholz at the time.
Uniper is the largest importer of Russian gas in the federal republic and has been, and remains, deeply affected by significantly reduced gas deliveries from Russia.
This has forced Uniper to buy gas at higher prices elsewhere, which is also why the German government stepped in and paid billions of euro to bail out the company.
The first package, which is still in the process of being implemented, involves EUR 267m in additional capital on top of credit facilities to the tune of EUR 9bn.
The share price drops 2.4% at the Frankfurt stock exchange Monday afternoon.
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