Germany nationalizes gas importer as the region faces an energy crisis

Germany announced that it has officially nationalized the gas importer company Uniper as the region continues to deal with an energy crisis.

Marie Oakes

September 21, 2022

The German government spent nearly 8 billion euros on the plan to take over 99% ownership of Uniper.

The German government is planning to inject ~€8bn into Uniper as part of a historic agreement to nationalize the gas giant and stave off a collapse of the country’s energy sector.
— Holger Zschaepitz (@Schuldensuehner) September 21, 2022

The move is part of the German government’s plan to try and take control of players in the energy industry. According to Reuters, last week Germany also took control over a Russian-owned refinery.

Likewise, France has recently made a buyout place to take over an electricity company to seemingly deal with the current energy crisis facing Europe.

“The state will – that’s what we’re showing now – do everything possible to always keep the companies stable on the market,” German economy minister Robert Habeck said.

Additionally, Minister Habeck has said that the government will be imposing a gas levy on German consumers starting in October in order to help importers absorb the additional costs due to substituting Russian gas.

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