EnergyWatch

Energy prices prompt Uniper to take out more credit facilities

The German utility has drawn down all of its existing EUR 1.8bn bank line and signed new credit facilities worth EUR 75bn to protect the company against "extreme market development".

Photo: HANNIBAL HANSCHKE/REUTERS / X02197

On Monday, Uniper's CEO made it clear that he expects Nord Stream 2 to enter operation before long. The German utility, which has financed half of the Russian gas pipeline together with Shell, OMV and Enige, expects no intervention from the German federal government and counts on authorities' efforts to continue as planned.

"It could happen by mid-2022. Nord Stream 2 is important," stated Klaus-Dieter Maubach to German regional daily Rheinische Post.

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