Moscow limits gas deliveries: Uniper collects forecasts – finance negotiations

Moscow limits gas supplies
Uniper collects forecasts – finance negotiations

The Uniper group receives less than half of the volumes of gas agreed with Russia. The forecast for the year is therefore no longer valid. The company must now discuss its financial stability with the federal government.

Energy supplier Uniper has lowered its earnings forecast for the current year due to limited gas supplies from Russia and is talking to the federal government about stabilization measures. The company is looking into ways to further secure the company’s liquidity, Uniper announced in Düsseldorf.

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Among other things, there are discussions with the Confederation about possible measures such as guarantees and bail payments, increasing the credit lines of the state development bank KfW that have not yet been used, but also about equity investments.

MDax has suspended previous earnings forecasts. In the first half of the year, operating income and adjusted profit are expected to be significantly lower than the previous year’s values, he said. The background is the effects of the current restrictions on gas supply by the Russian state company Gazprom.

According to Uniper, since June 16, 2022 it has received from Gazprom only 40 per cent of the volumes of gas contractually guaranteed and has had to procure replacement volumes at a high price. Uniper assumes that if the Federal Network Agency determines and communicates the gas shortage, some of the current charges can be passed on to customers.

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