My Tiny Feed

dw.com

Uniper's Profitability and Debt Repayment

Uniper, nationalized in 2022, reports €1.3 billion profit in 2024 and repays €530 million to the German government.

Read original article in Russian

Russian

Germany

RussiaGermany Energy SecurityFinanceEnergyProfit

UniperGazpromEuropean Commission

What were Uniper's financial results for the first three quarters of 2024?: Uniper, formerly Germany's largest importer of Russian gas, reported a €1.3 billion net profit for the first three quarters of 2024. This follows its nationalization in 2022 after suffering massive losses due to the halt in Russian gas supplies.
What significant event regarding Uniper's contracts with Gazprom happened in June 2024?: In June 2024, Uniper formally terminated its contracts with Gazprom following a Stockholm arbitration tribunal decision. This ended long-term contracts despite Russia's cessation of gas supplies in late 2022.
How did Uniper achieve profitability after facing massive losses due to the Russian gas supply halt?: Uniper's profitability turnaround is a result of adapting to the changed gas market after Russia cut off supplies. The company purchased gas at higher market prices while maintaining lower contract prices for its customers.
How much money has Uniper returned to the German government, and what are the plans for future repayments?: The company has already repaid €530 million to the German government, with further repayments planned for early 2025, depending on the year's performance. Uniper has also set aside €2.5 billion in reserves.
What role did the German government play in Uniper's survival, and what are the future plans for the company?: The German government nationalized Uniper in late 2022 to prevent its bankruptcy, investing €13.5 billion. The company is now profitable and is expected to be partially privatized by 2028.

Jan 22, 19:09

German Fuel Prices Rise for Sixth Consecutive Week

According to ADAC's weekly survey of over 14,000 gas stations, German gas prices increased for the sixth straight week due to higher crude oil prices, influenced by geopolitical factors and a recent CO2 price increase.

Jan 21, 19:10

Schröder and Warnig to Testify in Nord Stream 2 Inquiry

Former German Chancellor Gerhard Schröder and former Nord Stream 2 CEO Matthias Warnig will testify on Friday before a Mecklenburg-Vorpommern state parliament committee investigating the Nord Stream 2 pipeline's construction, which was completed in late 2021 but never went into operation due to the war in Ukraine and was later sabotaged; the committee is particularly interested in the role of a foundation funded largely by Nord Stream 2 and created to secure the pipeline's completion amidst US sanctions.

Jan 14, 13:07

Rosatom to Sue Siemens Energy Over Delays at Turkish Nuclear Plant

Rosatom plans to sue Siemens Energy for delayed equipment delivery to Turkey's Akkuyu nuclear power plant, a project delayed by German export permit processing, with China now supplying replacement parts.

Jan 12, 04:05

Disabled Russian Tanker in German Waters Highlights Sanctions Circumvention

A Russian tanker, the Eventein, lost power in German waters and was identified as part of Russia's 'shadow fleet' used to bypass sanctions; German authorities secured the vessel carrying 99,000 tons of oil.