Scholz hints at Lufthansa-like bailout for gas giant Uniper

German Chancellor Olaf Scholz on Sunday hinted that a Lufthansa-like bailout was on the table to rescue gas giant Uniper.

Referring to the €9 billion package to save the German airline, Scholz said that his government was looking into options to help Uniper, Germany’s largest gas importer.

“During the last crisis, we developed very precise instruments — and I drove this forward as finance minister — in order to support companies that have come under pressure from circumstances for which they are not responsible,” Scholz said on Sunday in an interview with public broadcaster ARD. 

The German government is considering presenting next week an emergency law to share rising gas costs between customers and companies amid fears of a Russian gas cutoff.

Only certain importers, like Düsseldorf-based Uniper, depend strongly on Russian gas and now face a sharp increase in costs as they need to compensate for reduced deliveries with expensive last-minute purchases on the global market.

Hans von der Burchard contributed reporting.