Uniper's $20Bln loss
Feb 17 (LNGJ) - Uniper, the German utility almost brought down by the stoppage of pipeline natural gas supplies from Russia’s Gazprom, reported an annual net loss of €19.1 billion ($20.4Bln) in its earnings just published. The Düsseldorf-based company noted that it had to receive a stabilization package from the German Federal finance agency to survive. Uniper’s bad luck was compounded as it was also a buyer of LNG cargoes from the US Freeport LNG plant in Texas closed by the June 8 fire. This happened several months before Uniper completed its North Sea Wilhelmshaven LNG terminal using the floating storage and regasification unit, the “Höegh Esperanza”.
Uniper expects profits to recover in 2023 after last year's record loss, as it now has access to LNG amid falling prices. “The exceptionally swift construction of Germany’s first LNG terminal in Wilhelmshaven has demonstrated that Uniper is a reliable partner for complex infrastructure projects,” said Klaus-Dieter Maubach, the Chief Executive of Uniper who is now stepping down.
German utility Uniper to start LNG FSRU imports at North Sea port of Wilhelmshaven before year-end
German utility Uniper, which has had to be bailed out by the German Government, said it expected the first floating storage and regasification unit (FSRU) planned for the North Sea port of Wilhelmshaven to come on line before the year-end.
Gastech in Milan enters third day after focus on future of Gazprom as supplier and East Med and African gas
The 50th anniversary Gastech Exhibition and Conference on LNG, pipeline natural gas and emerging energies entered its third day on Wednesday after serious discussions on the natural gas crisis in Europe, the future of Gazprom's ties with the West and projects to replace Russian gas from regions like the East Mediterranean and Africa.
Energy and LNG executives and ministers gather in Milan for four-day Gastech Conference as crisis deepens
The 50th anniversary Gastech Exhibition and Conference on LNG, pipeline natural and emerging energies is beginning on September 5 in the Italian city of Milan with global energy leaders and executives set to discuss the growing global gas crisis.
Finnish owner of crisis-hit German utility Uniper calls on Berlin to step up and protect its own power providers
Fortum, the Finnish energy and power company with European Union-wide operations and with plans to give Finland its first floating LNG import terminal, is the majority shareholder in the troubled German utility Uniper but has refused to put any more cash into the Duesseldorf-based company.
