The Commission is due to approve bailout of Uniper under state aid rules. Credit: Terry McGraw from Pixabay.

Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict

The European Commission has approved the German government’s planned takeover of energy companies Uniper and Sefe, a former subsidiary of the Russian energy giant Gazprom.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The move comes in the backdrop of energy crises in Europe after Russia squeezed gas supplies to the region following war in Ukraine.

With the takeover, Germany intends to ensure steady gas supplies in the country as it moves away from dependency on Russian gas.

The German government currently owns a 30% stake in Uniper. It will acquire additional stake in Uniper from Finnish energy firm Fortum, to bring its total share in the gas importer to 99%.

The Commission, however, is due to approve bailout of Uniper under state aid rules.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Earlier this year, Germany also said it will nationalise SEFE to safeguard its energy needs.

Germany’s acquisition of the two companies was approved under the EU merger regulation follows the conclusion of the Commission that it would not raise competition concerns.

Commenting on the EU’s approval, Germany Economy Ministry spokesperson was quoted by Reuters as saying: “This is an important step in the proceedings.”

In a separate announcement, Uniper has officially commissioned the first German floating LNG import terminal for in Wilhelmshaven.

Uniper said the Höegh Esperanza FSRU, which is designated for the Wilhelmshaven LNG terminal, has arrived at the terminal.

In a press statement, Uniper said: “Even before Christmas, LNG will be re-gasified and conveyed via the newly created Wilhelmshavener Anbindungsleitung (Wilhelmshaven Connector Pipeline/WAL) into the German long-distance gas grid.”