Berlin-Uniper SE One of Europe’s biggest utilities is negotiating bailout talks with the German government, saying a dwindling natural gas supply from Russia would hit earnings hard.
Russia’s state-controlled Gazprom PJSC earlier this month diverted up to 40% of its capacity to Germany via the Nord Stream pipeline. Elaborating, Uniper said it has been receiving only 40% of its contractually committed gas volume from Gazprom since mid-June. Unipar, which relies on those deliveries to meet demand from its commercial and residential customers, has had to differentiate into the spot gas market, paying higher prices for that gas.