Germany nationalizes gas company Uniper to protect energy supplies
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The German government announced Wednesday that it would nationalize the country’s biggest importer of Russian gas, Uniper, expanding state intervention aimed at preventing an energy shortage because of Russia’s war in Ukraine.
The move builds on a 15 billion euro ($14.8 billion) rescue package from late July that was intended to stabilize the gas giant, which supplies 40 percent of the natural gas used across Germany. Through the additional 8 billion euro capital increase, the German government will now take ownership of 99 percent of the company.
“The decision was made,” German Economic Affairs and Climate Minister Robert Habeck said at a news conference, “to ensure security of supply for Germany.”
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