Enlarge image
Has stumbled: entrance to the headquarters of the Uniper Group in Düsseldorf
Photo: WOLFGANG RATTAY / REUTERS
The gas is flowing through Nord Stream again – but is it enough to end the price capers on the energy market?
These have already led to the first major German corporation hitting the list: the gas supplier Uniper, based in Düsseldorf.
The head of the group works council of the troubled gas supplier Uniper, Harald Seegatz, asked the federal government for quick help before the decisive rescue negotiations.
"Time is running out to save Uniper, we need quick decisions from politicians and our owner Fortum," Seegatz told the Düsseldorf daily Rheinische Post on Thursday.
“The staff is deeply concerned.
We ask the federal government to get on board with Uniper SE as soon as possible.«
Federal government apparently ready to get started
At the same time, Seegatz warned the major Finnish shareholder Fortum against breaking up Uniper: “Uniper must not be broken up, which would mean Fortum wanted to spin off the gas business.
Uniper must not sell out.
Uniper can only support the German energy industry if it has all its parts.«
Uniper is an international energy company that sells electricity and gas to wholesale customers such as municipal utilities and industrial companies.
It is heavily involved in gas trading with Russia and claims to be one of the most important gas companies in Europe.
This in turn fuels fears of incalculable effects in the event of Uniper's insolvency.
The "Handelsblatt" reported on Wednesday that the federal government is considering taking over 30 percent of Uniper's shares.
In addition, the German state could increase the existing loans from the state development bank KfW from two to eight billion euros in order to provide short-term liquidity for replacement gas purchases.
Uniper's majority shareholder Fortum prefers to spin off the German business, which the German state should then take over.
beb/afp
