The German energy company Uniper has initiated proceedings against Russiaʼs Gazprom in an international arbitration court.
This was reported in the press service of the enterprise.
Uniper demands from Gazprom to compensate the losses for the gas not received since June. In order to meet its own delivery obligations to customers, the company had to buy gas at an inflated price. Uniperʼs gas substitution costs are currently at least €11.6 billion, but will increase until the end of 2024.
“We demand compensation for our significant financial losses in this proceeding. We are talking about volumes of gas that were agreed with Gazprom under the contract, but were not delivered, and for which we had to buy replacements at extremely high market prices and still have to [do so]. We have suffered these losses, but they are not our responsibility. We continue these lawsuits with all our energy: we owe it to our shareholders, our employees and taxpayers,” said Uniperʼs CEO Klaus-Dieter Maubach.
Uniper also announced that it has decided to distance itself as much as possible from its Russian unit Unipro, both legally and in terms of personnel. In the summer of 2021, Unipro decided to sell, an agreement was concluded with a local buyer, but the sale has not yet taken place.
- In September 2022, Russian Gazprom announced the suspension of gas supplies through the Nord Stream pipeline, which is the main gas pipeline for supplies to the EU.
- In September, Germany also nationalized the countryʼs largest gas importer, Uniper SE, and in November, Germany decided to nationalize the former subsidiary of Russiaʼs Gazprom due to the companyʼs heavy debts and imminent bankruptcy.