Reply To: Energy Crisis Pushes German Gas Giant Uniper SE To Seek 9 Billion Euro Bailout

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Uniper May Need More German Bailout (5:55 p.m.)

Uniper SE’s losses to replace missing Russian gas could reach 7 billion euros ($7 billion) as early as this month, which would force the German government to step up again to help out the utility, according to Chief Executive Officer Klaus-Dieter Maubach.

“We got the stabilization package from the government, we have agreed with a 7 billion euros backstop to be reached in the fourth quarter, and it 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.”

Bloomberg