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 Fund.
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The transaction comprises Uniper selling 100% of Lubmin-Brandov Assets GmbH & Co. KG, which holds a 20% co-ownership interest in OPAL. The remaining 80% co-ownership interest is held by GASCADE Gastransport GmbH.
“The divestment is part of the remedies Uniper must fulfill under the EU state aid law,” the German energy giant said.
The completion of the transaction remains subject to the required regulatory approvals and the non-execution of a pre-emption right by the fractional co-owner.
OPAL is one of Europe’s largest transmission corridors, spanning approximately 470 km (292 miles) from Lubmin in Germany to Brandov in the Czech Republic. As part of Germany’s hydrogen core network, the northern section of OPAL was converted in mid-December 2025, while the southern section is expected to follow by the end of 2030.
Meanwhile, Germany remains committed to cut its 99% stake in Uniper to below 25% by 2028, per the EU state aid conditions.
Germany is considering a sale or an initial public offering for the 99% it holds in Uniper, the government said in May.
Norway’s energy major Equinor, Brookfield Asset Management, EPH of Czech billionaire Daniel Kretinsky, and Abu Dhabi’s Taqa have reportedly expressed interest in recent months in acquiring the German utility giant.
By Michael Kern for Oilprice.com
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