Dhe liquidity requirements at the energy group Uniper are increasing in view of rising gas prices and increasing delivery restrictions. To stabilize the group, Uniper had applied for an increase in the KfW credit facility by EUR 4 billion on Monday afternoon in Düsseldorf.
With the 2 billion euros received today, the existing credit line of 9 billion euros from the state-owned KfW bank has been fully exhausted. The Uniper share then fell towards its daily low.
Uniper applied for state aid in July and was promised it two weeks later. The KfW credit line is part of the rescue package. Due to the throttling of Russian deliveries via the Nord Stream 1 Baltic Sea pipeline, the Düsseldorf-based group has to buy gas more expensively on the market in order to fulfill contracts. This leads to liquidity problems.
The group plays a central role in the German energy supply and supplies more than 100 municipal utilities and industrial companies.
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