Uniper flags $6.3 billion in losses due to Russian gas crisis

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FILE PHOTO: Bierwang gas storage facility near Kraiburg am Inn

FRANKFURT – Uniper will accumulate losses of 6.2 billion euros ($6.3 billion) due to reduced deliveries of Russian gas that have forced the company, which received a bailout on Friday, to buy gas at much higher prices elsewhere.

The loss estimate refers to the time period starting June 14, the day Russia cut flows of the Nord Stream 1 pipeline by 60%, to Sept. 30, the end of the third quarter, according to presentation slides.

($1 = 0.9819 euros)

(Reporting by Christoph Steitz, Editing by Miranda Murray)