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Uniper withdraws 2022 outlook on Gazprom supply restrictions

Germany in bailout talks with Uniper amid gas crisis
Germany in bailout talks with Uniper amid gas crisis Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Published on Updated
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-German utility Uniper SE withdrew its outlook for the 2022 financial year on Wednesday due to gas supply restrictions from Gazprom and said it was in discussions with the government about possible support measures.

Uniper said it had received only 40% of the contractually agreed gas volumes from Gazprom since June 16, as Russian gas supplies to Western Europe slow with the Ukraine war.

The energy company said it withdrew its 2022 guidance for adjusted earnings before interest and taxes (EBIT) and adjusted net income, and expected both figures for the first half of the year to be significantly below last year's levels.

Uniper is due to report first-half figures on Aug. 2.

The company also said it was in talks with the German government about possible stabilization measures including guarantees, collateral, increasing the current not-yet-drawn state credit facility and equity investments.

($1 = 0.9579 euros)

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