Red alert on the gas supply in Germany.
The German fossil fuel giant, Uniper, announced on Wednesday evening that it had appealed to the government not to sink.
The supplier and leading gas storage manager across the Rhine has been hit hard by the drop in volumes sent by the Russian gas giant, Gazprom.
Russian gas alert: Germany uses coal
Uniper receives only 40% of the cubic meters provided for in the long-term contract with its Russian counterpart.
To continue to supply its customers, both industrial and private, it must buy the missing quantities on the short-term market, where prices are soaring.
Without being able at this stage to pass on the additional cost to its customers, which puts it in danger.
This additional cost is estimated by UBS analysts at 400 million euros for the first six months of the year, and could reach 1 billion euros over the year if the situation continues.
Uniper has suspended its financial targets for 2022.
“The duration and scope of supply restrictions…
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