Germany nationalizes country’s biggest gas importer Uniper

By FRANK JORDANS
Associated Press

BERLIN (AP) — The German government says it’s agreed to nationalize the country’s biggest natural gas importer, Uniper, expanding state intervention in the industry to prevent an energy shortage resulting from Russia’s war in Ukraine. The deal with Uniper announced Wednesday builds on a rescue package agreed to in July and features a capital increase of 8 billion euros that the government will finance. The government will take a majority stake in Uniper, which until now was controlled by Finland-based Fortum. Uniper’s losses have mounted as Russia has cut back natural gas supplies to European countries supporting Ukraine.