Gas importer Uniper needs bailout by July 25

Gas importer Uniper is short of money. In order to maintain liquidity, urgent help must come from the state. According to insiders, a state bailout for struggling gas importer Uniper must be in place by July 25. Because by then, early next week, Uniper was threatened with even bigger liquidity bottlenecks, two people familiar with the negotiations told Reuters news agency on Tuesday. The group is suffering from the hesitant flow of gas from Russia, its main source of supply. As Uniper has to buy replacement gas from other sources at high prices, the company is losing money every day. The state must therefore help. If the Russian gas supplier Gazprom were to resume deliveries after the maintenance phase on Thursday, it could ease the situation a little for Uniper, whose 15 to 30% stake is being discussed in order to inject new capital and prevent Uniper from losing its investment quality. is losing, insiders said. The company is one step away from an “undesirable” credit rating that would make refinancing more expensive.

The Finnish government involved

Besides the federal government, the talks also involve Uniper’s majority shareholder, Fortum, and the Finnish state, which owns 51% of the Finnish energy group. Uniper and Fortum declined to comment. A federal government spokeswoman also declined to comment. The Finnish government could not immediately be reached for comment.

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