Uniper is filing a lawsuit against Gazprom before an arbitration court. The German energy company is seeking compensation for costs caused by undelivered gas volumes.
Uniper energy group filed a lawsuit against Gazprom before an international arbitration court. In a related application, the Düsseldorf-based company seeks compensation for costs incurred in connection with gas volumes not supplied by Russia’s Gazprom Export (GPE). Uniper announced this.
It concerns contractually agreed but undelivered quantities of gas that Uniper has had to procure from the market as an alternative at high costs, as Russia is no longer supplying gas.
Additional costs for this would amount to 11.6 billion euros by 25 November. They would continue to increase until 2024. Uniper lost 200 million euros on some days. Right now it’s just under 100 million a day.
Uniper seeks compensation from Gazprom
“We follow the process with all its consequences,” says Maubach. You owe it to employees, taxpayers and shareholders. The proceedings will be held in Stockholm according to Swiss law. This is provided in the contracts between Uniper and Gazprom. It is completely unclear whether Gazprom will be involved in this process. Legal procedures were followed from the beginning.
He regretted that Gazprom had not yet accepted the negotiation offers. For this reason, he reported my name to the management in writing.
State prevented company bankruptcy
In September, Uniper, its largest shareholder Fortum, and the federal government agreed on an eight billion-euro capital injection from the federal government. At the annual general meeting on 19 December, shareholders will approve the additional capital of 25 billion euros.
It also secures a €18 billion KfW loan financing. However, the stabilization package has to be approved by the EU Commission before the Annual General Meeting. But the negotiating circles say they will only do so under certain conditions. This will worsen Uniper’s financial situation.
Source: ZDF
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