Business

Russia’s gas cuts push Uniper into bailout negotiations

Berlin-Uniper SE One of Europe’s largest power companies is in talks with the German government to bail out, saying that the decline in natural gas supply from Russia will hurt earnings.

Russia’s state-owned Gazprom PJSC reduced delivery to Germany via the Nord Stream pipeline to 40% of capacity earlier this month. Uniper, by extension, said it has received only 40% of the contractually committed amount of gas from Gazprom since mid-June. Uniper, which relies on these deliveries to meet the demands of commercial and residential customers, needs to make up for the differences in the spot gas market and pays high prices for that gas.

Russia’s gas cuts push Uniper into bailout negotiations

Source link Russia’s gas cuts push Uniper into bailout negotiations

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