Germany weighs bailing out gas giant Uniper as Russia slashes deliveries

Uniper, the largest buyer of Russian gas in Germany, is discussing a possible increase in state-backed loans or even receiving equity investments to secure liquidity. Picture: BLOOMBERG

“During the last crisis, we developed very precise instruments — and I drove this forward as finance minister — to support companies that have come under pressure from circumstances for which they are not responsible,” Scholz said in an interview with public broadcaster ARD on Sunday. Germany’s economy ministry has confirmed that talks are under way after the sharp rise in gas prices and Russia’s moves to slash deliveries hobbled the Düsseldorf-based company.

The Social Democrat chancellor said that the government’s aim is to shield suppliers and consumers from the spike in gas prices that has followed a reduction of gas flows by about 60% through a key pipeline from Russia.

Source: News Formal (newsformal.com)

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