What does the German natural gas provider....Uniper.....have in debt from the past 12 months?
Twelve-billion Euro.
Yeah....mostly from their missing the price increases and being contractually bound to a lesser price to customers.
What it means now? The state (NRW) has stepped in and will now be a co-owner.
Will it be able to survive? The general belief is that via various mechanisms.....they can lessen this debt. If you asked me that this could be done in three years? I'd suggest 'NO'.
Part of this problem due to Nord Stream II never being approved for use? Yeah....that's one issue in the pot, and Uniper probably had around 3-billion Euro that was sunk into that 'pot' and is screwed on the return.
Being hopeful that Russia will eventually the war and find a path back to 'friendship', with Nord Stream II getting some approval in the years to come? I'd have my doubts.
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