German government takes 30% stake in Uniper amid energy crisis

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The German government will take a 30% stake in Uniper, the country’s largest importer of Russian gas, as part of a multibillion-euro bailout in the face of gas shortages, the company said on Friday. “You’ll never walk alone,” German Chancellor Olaf Scholz said at a press conference announcing the move, adding that Uniper was of paramount importance to the energy supply of German citizens and companies. The utility has been hit hard by the reduction in gas supplies from Russia through the Nord Stream 1 pipeline. To fulfil its contracts, the company has resorted to buying more expensive gas on t…

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