The German government on Wednesday agreed the nationalization of energy giant Uniper as it strives to keep the industry afloat in the wake of the energy crisis.
Having already agreed in July to bail out the major gas importer with a 15 billion euro rescue deal, the state will now buy out the 56% stake of Finland's Fortum for a further 500 million euros.as it strives to keep the industry afloat in the wake of a worldwide energy crisis.
Having already agreed in July to bail out the major gas importer with a 15 billion euro rescue deal, the state will now buy out the 56% stake of Finland's"Since the stabilisation package for Uniper was agreed in July, Uniper's situation has further deteriorated rapidly and significantly; as such, new measures to resolve the situation have been agreed," Fortum announced in a statement on Wednesday morning.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
EXCLUSIVE German utilities close to long-term LNG deals with Qatar, sources sayGerman utilities RWE and Uniper are close to striking long-term deals to buy liquefied natural gas (LNG) from Qatar's North Field Expansion project to help replace Russian gas, three sources familiar with the matter said.
Read more »
Owners of Preserve in Annapolis Are Opening a Modern German Beer and Wine GardenThe perfect day trip! The best part, it's less than an hour outside DC.
Read more »
1,000-Year-Old German Choir Admits Girls For First TimeThe Regensburger Domspatzen, a German choir founded in the year 975 for boys and young men, is now accepting girls into its music school for the first time, though they will perform in a separate choir. What do you think?
Read more »
Nuclear plant leak pressures German govt to decide extensionThe operator of one of Germany's three remaining nuclear power stations says that it has detected a leak that will require the plant to shut down for several days of maintenance next month if it is to keep going beyond the end of the year.
Read more »
Ukraine war thrusts German climate action into spotlightGermany’s climate envoy says the country remains committed to phasing out coal as a source of power by 2030. At this point, though, the country has been forced to reactivate coal-fired power plants amid energy shortages caused by Russia's war in Ukraine.
Read more »
Far-right German party members to tour Russian-held regions of UkraineMembers of the far-right Alternative for Germany party said they were traveling to Russian occupied-areas of eastern Ukraine on Tuesday, in a trip expected to be leveraged in pro-Kremlin propaganda.
Read more »