BERLIN (AFP) – German energy giant Uniper yesterday reported heavy first-half losses which it blamed on Russia squeezing gas deliveries in the wake of the Ukraine war.
The company, which accepted a government rescue package last month, said that it had recorded a net loss in the first six months of the year of EUR12.3 billion (USD12.5 billion).
“Uniper has for months been playing a crucial role in stabilising Germany’s gas supply at the cost of billions in losses resulting from the sharp drop in gas deliveries from Russia,” CEO Klaus-Dieter Maubach said in a statement.
The German government agreed in late July to take an around 30-per-cent stake in Uniper, which was threatened with bankruptcy as a result of the crisis.
