The German government is preparing to acquire three gas production companies. One is Uniper, the country’s largest importer of gas, it announced on Wednesday. The information is provided by Bloomberg, which cites sources close to the process.
Besides Uniper, VNG and Securing Energy for Europe (SEFE) are also under consideration. The terms of the proposal have not yet been drawn up, but the official announcement should be made in the coming days.
Speaking to reporters, German Economy Minister Robert Habeck was asked about this proposal, saying that “things are complicated” and that the government is working on this measure.
In the case of Uniper, the difficulties are due to the fact that Fortum, the current majority shareholder, has made a loan to the German company and there is a possibility of unwillingness to abandon this investment. In the case of VNG, the costs of replacing gas from Russia could reach 1 billion euros, which would be on the part of the state if the operation was carried out.
On the other hand, the nationalization of the SEFE, formerly known as Gazprom Germania, runs the risk of the acquisition money ending up in the hands of Russia, as German law may require compensation to be paid to the previous owner of the company.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
