Uniper ran into trouble when the Russian state-owned gas group Gazprom cut off its supply to Europe. As a result, the company had to source gas from the market at much higher prices than its long-term contracts with Gazprom, leading to a loss of more than € 12 billion in the first half of 2022. CEO Klaus-Dieter Maubach recently said the search for an alternative to Russian gas could result in a loss of € 7 billion this month.
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According to Bloomberg, the German and Finnish governments are discussing a possible nationalization. Uniper is largely owned by the utility company Fortum, which is owned by the Finnish state.
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The German Ministry of Economy and Fortum declined to comment. Uniper could not immediately answer questions about the news.
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