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German government and Uniper agree on multibillion-euro bailout

Published July 22,2022
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(AFP)

The German government and Uniper, the country's largest importer of Russian gas, have agreed on a multibillion-euro bailout, the company says.

The agreement will see the government take a stake in Uniper, which has been hit hard by the reduction in gas supplies from Russia through the Nord Stream 1 pipeline.

To fulfil its contracts, the company has resorted to buying more expensive gas on the market, which has led to major liquidity problems.