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Search resuls for: "Swedish Nuclear"


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Jonathan Nackstrand | Afp | Getty ImagesFinland is on the cusp of burying spent nuclear fuel in the world's first geological tomb, where it will be stored for 100,000 years. The pioneering project has been hailed as both a watershed moment for the long-term sustainability of nuclear energy and "a model for the entire world." Nuclear energy currently provides about 9% of the world's electricity, according to the World Nuclear Association. Finland is poised to bury spent nuclear fuel in the world's first geological tomb. KBS-3 is based on a multi-barrier principle, where several engineered barriers seek to ensure the long-term safety of the spent nuclear fuel.
Persons: Jonathan Nackstrand, Posiva, Gareth Law, University of Helsinki Tuohimaa, Tuohimaa, Kai Mykkänen Organizations: Afp, Getty, CNBC, videoconference, University of Helsinki, World Nuclear Association, Nordic, KBS, Swedish Nuclear, Waste Management Company, U.S Locations: ONKALO, Eurajoki, Finland, Finnish, Olkiluoto, Helsinki, Europe, Asia, Sweden
Russia's Gazprom (GAZP.MM) was once Uniper's biggest supplier of gas, but a big drop in deliveries after Moscow's invasion of Ukraine forced the German gas importer to buy gas elsewhere at much higher prices to honour its contracts. Uniper's investors voted in favour of the two main measures at Monday's meeting, an 8 billion euro capital injection by the German state and allowing a further injection of up to 25 billion euros by Berlin. Maubach said Uniper currently had access to around 2.5 billion euros of funds. As part of the bailout, the German government will end up owning just below 99% of Uniper, Germany's largest gas trader, following two share issues. The loss of Russian gas, Moscow's retaliation for Western sanctions over its invasion of Ukraine, triggered a 40 billion euro net loss for the importer, which provides around a third of Germany's gas, the largest loss in German corporate history.
Uniper boss tells investors to back German bailout or risk all
  + stars: | 2022-12-19 | by ( ) www.reuters.com   time to read: +2 min
FRANKFURT/BERLIN, Dec 19 (Reuters) - Germany's Uniper (UN01.DE) called on shareholders to approve a bailout and nationalisation that will cost the government more than 50 billion euros ($53 billion), warning that it will otherwise have to consider filing for insolvency. Gazprom (GAZP.MM) was once its biggest supplier, but a big drop in deliveries after Russia's invasion of Ukraine forced Uniper to buy gas elsewhere at much higher prices to meet its contracts. "In the Management Board's view, a possible insolvency could lead to a complete loss for shareholders." If the bailout is approved, the German government will end up owning just below 99% of Uniper, Germany's largest gas trader, following two share issues. Germany's Finance Ministry will be responsible for the stake, Uniper said on Monday.
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