Uniper to sell 20% of OPAL to meet EU state aid conditions
German energy company Uniper has signed an agreement to sell a 20% stake in the OPAL gas pipeline to hydrogen-sector investor Hy24. The sale is part of the company’s obligations under European Union state aid rules following Uniper’s nationalization by the German government in 2022, OilPrice reports.
Terms of the deal
Hy24 will acquire the asset through its Clean Hydrogen Infrastructure Fund. As part of the transaction, Uniper will sell 100% of Lubmin-Brandov Assets GmbH & Co. KG, which owns a 20% stake in the OPAL gas pipeline. The remaining 80% is co-owned by GASCADE Gastransport GmbH.
Completion of the transaction depends on obtaining the required regulatory approvals and on whether the other co-owner exercises its pre-emptive right to acquire the stake. Uniper said that the asset disposal is among the measures the company must implement under EU state aid rules.
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The gas pipeline and Germany’s stake in Uniper
OPAL is one of Europe’s largest gas transmission corridors. It is approximately 470 kilometres long, running from Lubmin in Germany to Brandov in the Czech Republic. The northern section of OPAL was converted in mid-December 2025 as part of Germany’s hydrogen backbone network, while conversion of the southern section is expected by the end of 2030.
In 2022, the German government nationalized Uniper to prevent its collapse amid a sharp rise in gas prices. According to the publication, the total cost of the nationalization was about $53 billion. Under EU conditions, Germany must reduce its 99% stake in Uniper to less than 25% by 2028. In May, the government said it was considering selling its stake or conducting an initial public offering of the company’s shares.
As OilPrice wrote, Norway’s Equinor, Brookfield Asset Management, Daniel Kretinsky’s Czech EPH, and Abu Dhabi-based TAQA have reportedly shown interest in acquiring Uniper in recent months.
