Uniper to Sell Gas Pipeline Stake to Meet EU State Aid Conditions
AI Summary
Uniper has agreed to sell its 20% stake in the OPAL gas pipeline to hydrogen investor Hy24 to comply with EU state aid requirements following the German government's nationalization of the energy company amid soaring gas prices.
Uniper announced on Monday an agreement to sell its 20% stake in the OPAL gas pipeline as part of the EU’s conditions on state aid that allowed Germany to bail out the German energy giant in 2022. Back then, the German government stepped in to nationalize Uniper to avoid its collapse amid soaring gas prices, with the total bill for the nationalization at about $53 billion. Uniper said today it had signed an agreement to sell its 20% stake in OPAL to hydrogen sector investor Hy24, which will be buying the stake via its Clean Hydrogen Infrastructure…