To prevent Uniper from collapsing, Germany’s largest natural gas importer requested an additional €4 billion in credit. Back to coal-fired electricity. The company has applied to state investment bank KfW to increase its state credit facility by 4 billion euros, Dusseldorf-based Uniper announced yesterday. With the last 2 billion euros it raised, the existing credit […]
Tag: Uniper
Uniper: Requests an additional state credit facility of 4 billion euros
German energy giant Uniper said on Monday it has requested a further €4bn extension of its government credit facility to boost its liquidity which has been squeezed by soaring gas prices. “We are working directly with the German government for a permanent solution to this emergency situation, as otherwise Uniper will no longer be able […]
Net losses of more than 12 billion euros in the first half for the German Uniper
Uniper posted net losses of more than 12 billion euros in the first half of 2022, with the now German state-backed utility providing a prime example of the depth of Europe’s energy crisis. Russia has sharply cut gas flows to the European Union in response to Western sanctions following Moscow’s war of aggression against Ukraine, […]
Reuters: Uniper plan to swap Australian LNG for US to supply Europe
Germany’s Uniper is ready to swap liquefied natural gas (LNG) supplied by Australia’s Woodside for US natural gas so it can boost Europe’s supply more quickly during the coming winter, according to a Reuters report. The strategy comes as companies and governments across Europe scramble to find alternative energy supply solutions and draw up contingency […]
Germany: 15 billion euro package to save Uniper
LAST UPDATE: 13:15 Uniper today received €15 billion in guarantees and shares as part of a bailout by the German government. As reported by Reuters, as part of the agreement, the German government will acquire a 30% stake in Uniper. Uniper’s Finnish parent Fortum will eventually own 56% of the German company, up from around […]
Germany: Uniper rejected Gazprom’s excuses for reducing gas flow
Germany’s largest natural gas importer, Uniper, last night officially rejected Gazprom’s claim of “force majeure” that prevented it from delivering the agreed amount of natural gas to its customer. As a representative of Uniper told the German Agency dpa, the company received a letter from Gazprom Export, a subsidiary of the Russian energy giant, in […]
Russia’s energy war forces Germany to draw supplies from storage
German energy giant Uniper said on Friday it is being forced to draw natural gas from storage facilities, reducing supplies needed for the winter as Europe experiences a severe heat wave, CNBC notes. The utility told CNBC that reducing natural gas volumes from its own storage facilities was necessary “in order to supply our customers […]
Waiting for the moment of truth for Nord Stream
Berlin is having second thoughts about prioritizing energy supply if the pipeline is shut down. Germany-Finland dispute over Uniper’s rescue model. There is an important meeting on Olaf Scholz’s daily schedule. This is the president of the Association of German Manufacturers, Siegfried Roosbuhrm, whom he had recently met in the framework of the Industry Day […]
Uniper submitted a request for support from the German government
German utility Uniper has applied for support from the German government after suffering financial difficulties due to reduced supplies of Russian natural gas, Reuters reported, citing a statement from Finland’s majority shareholder Fortum. German energy giant Uniper SE is in talks with the government for a rescue package of up to 9 billion euros ($9.4 […]
Uniper: In discussions with the government for a rescue package of up to 9 billion euros
German energy giant Uniper SE is in talks with the government for a bailout package of up to 9 billion euros ($9.4 billion), Bloomberg reported, citing a source with knowledge of the matter. The government is considering imposing a series of measures that will include loans to the company, the taking of a share and […]