Uniper SE said it expects the financial blows it took last year to replace Russian natural gas with costlier spot supplies to impact operations until the end of 2024, at which point it’s unlikely to require equity injections and credit from the German government. 


Germany’s largest gas buyer was bailed out by the government last year. It exhausted capital and went into debt trying to fulfill customer contracts with replacement supplies as Russia slowly shut off gas deliveries to Europe following its invasion of Ukraine. 

CEO Klaus-Dieter Maubach said the “burden of gas replacement procurement costs has put our company in an extremely difficult situation.”  He called 2022 “the most difficult year” in the company’s history.  The German government ultimately...