Finland strengthens its presence in the energy sector of the Russian Federation

Within the next few weeks, the purchase of the Finnish energy company Fortum Corporation by the German Uniper should be finalized. The deal was approved by representatives of the European Commission and the Russian government.

The German company, as a supplier of various energy services, is widely represented in Europe, including in the field of nuclear and hydropower. In addition, Uniper has 25% of assets  in one of the gas fields of the Yamal-Nenets Autonomous Okrug. Taking into account the broad presence of Fortum in the Russian market and intention to actively develop fuel-free heat production technologies, the Finnish company announced its desire to acquire a significant block of shares in the German Concern in the beginning of the last year. The total value of the contract can reach 4 billion euros.

As a result of the transaction, Fortum will become a very significant player in the energy market of Russia. Investments in this sphere from the Finnish company already amount to more than 4 billion euros, almost half of the employees work in the territory of the Russian Federation.

Source: yle.fi