German energy group Uniper applies for €4bn more in emergency credit

Struggling German energy group Uniper has applied for €4 billion ($4 billion) in extra credit to help it cope with higher energy prices in the wake of the Russian invasion of Ukraine.
Uniper announced the move in Dusseldorf on Monday, saying the expanded credit line from Germany's development bank KfW was intended to stabilize the company.
An existing credit line of €9 billion has already been used up.
Uniper applied for state aid in July and received it two weeks later as part of a rescue package from the government.
Due to the sharp reduction in Russian gas supplies via the Nord Stream 1 Baltic Sea pipeline, Uniper has had to buy more expensive gas on the market in order to fulfil its contracts. This has led to liquidity problems.
The group plays a central role in providing energy to Germany and supplies more than 100 municipal utilities and industrial companies.