Uniper wants to establish LNG supply from Canada - CEO

Wednesday, 17. August 2022 11:59

Uniper is working on establishing liquefied natural gas (LNG) deliveries from Canada, the company's CEO Klaus-Dieter Maubach said on Wednesday after the German energy company published its financial results for the first half of the year earlier in the morning.

According to its data, the reduction in Russian gas supplies ''adversely'' impacted the company's performance this year, which is now focused on swift implementation of its ''stabilization package,'' as stated in its press release. Its adjusted net loss stood at €359 million, following adjusted net income of €485 million, which was marked in the prior year. The IFRS net loss exceeded €12 billion, the data showed. Uniper expects to mark further negative earnings this year, while an improvement, according to its latest forecast, is scheduled for 2023. An exit from the ''loss zone'' is expected to happen at the beginning of 2024, Uniper CFO Tiina Tuomela explained.

Previously, Berlin announced it will be taking a 30% stake in the largest national gas importer, while also preparing for the implementation of a nationwide gas price levy coming into effect in October 2022. The new measure is supposed to prevent Uniper from failing.

The company's shares fell by 7.23% at 11:42 am CET.

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