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Germany Nationalizes Gas Giant Amid Energy Crisis

At a glance

  • Germany is to nationalize gas giant Uniper in an effort to secure energy supplies amid the war in Ukraine.
  • The deal will see the German government take on a 98.5% stake in the firm at a cost of €8.5bn (£7.4bn).
  • Germany is Europe’s biggest importer of Russian gas, and has been particularly squeezed as Russia has reduced supplies in recent months.
  • Chief executive Klaus-Dieter Maubach said the deal would help Uniper’s role as “a system-critical energy supplier.”

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