German Chancellor Olaf Scholz announced a broad stabilization package for Uniper, the German gas importer facing liquidity strains. The package also involves Fortum, the Finnish owner, and reflects the impact of reduced Russian gas supply on the company’s finances. The state is stepping in to support a critical energy link for Germany’s households and businesses.
The agreement outlines a 30 percent stake purchase by the German state, a move Scholz described during a late-night press conference after returning from a family vacation in Berlin. The declaration signals a swift political commitment to keeping Uniper solvent and maintaining steady gas flows within the country.
As part of the stabilization measures, the government will extend Uniper’s credit line with KfW, the state development bank, providing access to liquidity to bridge short‑term funding gaps and stabilize operations during the market disruption.
One of the key tools is contingent bonds described as hybrid capital, totaling 7.7 billion euros. This instrument is designed to strengthen the company’s balance sheet, with potential automatic conversion into common equity at a defined term, reinforcing Uniper’s capitalization structure as conditions evolve.
Talks among the German government, Fortum, and the Finnish authorities stretched over several weeks. Berlin reportedly pressed Helsinki for additional support, underscoring the strategic nature of Uniper for European energy security and its role as a primary buyer of gas for Germany.
Scholz noted that the state will acquire Uniper shares at a nominal value of 1.70 euros, while market quotes have shown higher levels. He emphasized that Fortum would also contribute to the package, reinforcing investor confidence and stabilizing the company’s position in the energy market.
The measures are intended to restore stability to Uniper, which the Chancellor described as vital for securing reliable gas supplies to homes and businesses across Germany. He pointed to the broader implications for energy resilience in the country and the potential to shield consumers from abrupt price volatility through sustained supply commitments.
Scholz recalled that Uniper’s financial difficulties stem from a disrupted gas supply from Russia, a situation that forced the company to seek alternatives at higher costs to honor existing contracts. This dynamic created significant financial pressure, especially because some customers could not absorb sudden price increases or transfer costs without affecting service continuity.
The Chancellor stressed a collaborative approach to energy challenges that includes working with partners across the region. He affirmed that no citizen or business would face these pressures alone, underscoring a shared responsibility to manage the energy transition and ensure stable access to essential resources.
In closing, Scholz asserted the government’s readiness to take whatever steps are necessary to support Uniper and safeguard Germany’s energy security. The remarks conveyed a message of resilience — the state will act decisively to stabilize the company and protect the broader economy from market shocks.