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Uniper May Need Even More Funds From Germany as Prices Surge

Klaus-Dieter Maubach

Klaus-Dieter Maubach

Source: Bloomberg 

German gas giant Uniper SE’s losses to replace missing Russian gas flows might reach a 7 billion-euro ($7 billion) limit this month, which would force the government to step in again to help the utility, according to chief executive officer Klaus-Dieter Maubach.

The stabilization package with the government includes a 7 billion-euro backstop to secure the company until the fourth quarter, but hitting that limit “will definitely be earlier,” he said on the sidelines of the Gastech conference in Milan. “Most likely we will reach that ceiling in September already.”