The German groupo Uniper is in talks with the government for a possible rescue package 9 billion euros. The Bloomberg agency writes it, citing a person close to the dossier. Uniper is the country’s largest gas supplier and one of Russia’s first customers Gazprom. The group faces difficulties due to the drop in inflows from Russia (40% of normal) and the need to find fuel at much higher prices. Today, gas has boosted the Amsterdam market 166 euros per megawatt / hour. The government is trying to implement a range of measures, including loans, the purchase of a stake and the ability to pass on additional costs to end customers despite contract terms. The Ministry of Finance and Uniper declined to comment on the indiscretion.
Gas price at 149 euros, the German operator Uniper is asking for state aid. OPEC increases crude oil production
In the last few days the Economy Minister Robert Habeck warned that the gas crisis threatens to trigger a market crash, recalling the crash of Lehman Brothers in the 2008 financial crisis. The federal government could legislate to deal with the emergency. Yesterday the chairman of the German trade union federation Yasmin Fahimi He warned that important German industries could meet to collapse because of delivery bottlenecks of Russian natural gas. “Gas bottlenecks threaten entire industries with permanent collapse: aluminum, glass, chemical industry. Such a collapse would have enormous consequences for the entire economy and employment in Germany,” he said Fahimi. On July 11, Russia will completely stop the flow of pipelines for ten days north current 1 which unites Russia and Germany, officially for “maintenance work”. Before the start of the war in Ukraine, Germany imported from Russia 55% of the gas consumed.
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European banks, up to 24 billion euros extra profit thanks to ECB funding. Frankfurt takes cover
The gas price is rising again and exceeds 175 euros per megawatt / hour. 9 billion euro rescue package for the German Uniper