Russian Gas Cuts Push Uniper Into Bailout Talks

BERLIN—Uniper SE considered one of Europe’s largest utilities, is in bailout talks with the German authorities, saying earnings can be hit onerous by dwindling natural-gas provides from Russia.

Russia’s state-controlled Gazprom PJSC lowered deliveries to Germany through the Nord Stream pipeline to 40% of its capability earlier this month. Uniper, by extension, stated it has been receiving solely 40% of its contractually dedicated fuel volumes from Gazprom since mid-June. Uniper, which depends on these deliveries to fulfill demand from its industrial and residential prospects, has needed to make up the distinction within the spot fuel market, paying greater costs for that fuel.