Uniper may sue Gazprom for “billions of euros”
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German energy company Uniper is exploring the possibility of suing Gazprom for “billions of euros” in connection with the reduction in Russian gas supplies to Europe. About it writes Reuters, citing sources.
Unjustified, from the point of view of Uniper, the reduction of supplies by Gazprom led to a record loss of the company in the amount of 12.4 billion euros in the first half of the year, as it had to buy falling volumes at higher prices.
“Of course, Uniper will study… such claims for damages against Gazprom and, in case of a high probability of success, will try to ensure their execution,” the company itself commented on the situation.
The company plans to initiate proceedings in the Stockholm Arbitration Court, which has repeatedly considered disputes over gas contracts between Gazprom and its partners, including the Polish PGNiG and the Ukrainian Naftogaz.
At the end of August Uniper requested from the State Development Bank to extend the credit line for another 4 billion euros, since the company has already completely used up the previous loan of 9 billion euros. The company indicated that they lose more than 100 million euros daily due to rising gas prices.
Earlier, in order to support the company, the federal government, Uniper and Fortum agreed at the end of July on a package of measures to stabilize the concern. In particular, the German government decided to buy out 30% of the company’s shares and additionally finance it by 7.7 billion euros. In addition, the State Development Bank increased the amount of loans issued from 2 billion to 9 billion euros.
“Gazprom” completely stopped deliveries via Nord Stream on September 2 due to a technical malfunction of the only operating turbine of the Portovaya compressor station after the pipeline was shut down on August 31 for scheduled preventive maintenance. The company noted that gas supplies will resume as soon as the malfunction is eliminated.
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