Recently, Russia has gradually stopped transporting natural gas to Europe. Natural gas has now become a "scarce commodity" in Europe. This is Europe's own fault.
Now Europe not only has to deal with the energy tension after Russia stopped supply, but also scratches its head over high energy prices. It is reported that European natural gas is experiencing its largest increase since May last year. In May, the increase in natural gas exceeded 50%.
The rise in natural gas has not only affected ordinary residents, but even Germany’s largest importer of Russian natural gas has bluntly stated that it “can’t stand it anymore.” According to media reports, on May 5, local time, the German energy giant Uniper asked the German government for help. The reduction in Russian natural gas supply has seriously affected its profits.
Germany is really in trouble right now, with "fires" everywhere. The Nord Stream 2 plan has also been warned by Russia, and there is no way to start.
According to people familiar with the matter, Russia only delivered 40% of its natural gas share in June, and Uniper relied heavily on Russian natural gas to meet commercial and residential needs. The remaining 60% had to be purchased from the market at higher prices, and was taken away by the market. A big wave of wool.
Uniper said that the sudden price difference has caused them to withdraw their full-year profit guidance. And the stock price fell to the lowest level in 5html in 5 years.
It is reported that Uniper has discussed with relevant people in Germany how to stabilize the economic situation, such as loans and increased investment. However, the company's financial situation had problems before the Russia-Ukraine conflict. In January this year, borrowed 10 billion euros from its parent company Finnish Utilities, and in May, its corporate rating dropped to the lowest level. Whether it can survive this rising tide is still unknown.
When Russia stopped supplying natural gas, although Uniper and Germany tried every means, they still consumed about 30 million euros every day. If Uniper cannot afford the high price, it will be in danger of bankruptcy.
Germany originally planned to increase its natural gas reserves to 90% before the onset of winter to survive the winter. However, various emergencies caused this plan to almost fail, and the current reserve level only reaches 60%. If additional measures are not taken, the German winter could be dangerous.
Text | Chen Xiaoning Title | Zeng Yi Review | Li Zepu
