The German energy company Uniper lost billions of euros in the first six months of this year due to a reduction in gas supplies from Russia. According to international IFRS, in the first half of the year, the Dusseldorf-based company recorded a loss of 12 billion euros, more than half of these losses are associated with the expected consequences of a reduction in gas supply, Uniper said. on Wednesday, August 17th.

“After a very good performance in the same period last year, the current losses are mainly related to the gas business, which suffered from the reduction in supply from Russia. To fulfill the contracts with customers, the company had to buy gas at high prices elsewhere,” the concern said.

Billions of debts

The report also mentions that Uniper’s business results were also negatively affected by losses amounting to 2.7 billion euros due to lower costs, as the Nord Stream 2 gas pipeline, in whose construction Uniper actively participated, was never released. Overall, Uniper has accumulated debts amounting to more than two billion euros.

The concern found it difficult to make forecasts for economic activity for 2022 due to high volatility, but expects negative results.

Uniper markets electricity and gas, supplying energy to large customers, such as companies and plants.