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Germany's Uniper sues Gazprom to recover damages from short gas supplies

According to the company, "These gas replacement costs alone, currently amount to at least 11.6 bln euro and will continue to grow until the end of 2024"

MOSCOW, November 30. /TASS/. German energy concern Uniper has filed a lawsuit against Gazprom Export to compensate for losses incurred from the insufficient supply of Russian gas this year, the company reported on Wednesday.

"Uniper has initiated arbitration proceedings against Russia's Gazprom Export (GPE) before an international arbitral tribunal. This was reported by Uniper CEO Klaus-Dieter Maubach at an event in D·sseldorf today. In the proceedings which will take place in Stockholm, Uniper is claiming damages incurred by the company in connection with the gas volumes not delivered by GPE since June. Uniper has to procure replacement volumes at a higher cost in order to meet its own delivery obligations to customers based on in the past agreed prices and volumes. This leads to the situation that Uniper has to bear the entire replacement costs," the statement said.

According to the company, "These gas replacement costs alone, currently amount to at least 11.6 bln euro and will continue to grow until the end of 2024."

"We are claiming recovery of our significant financial damages in these proceedings. It's about gas volumes that were contractually agreed with Gazprom but not delivered and for which we had to procure replacements at extremely high market prices and still have to do so. We incurred these costs, but they are not our responsibility. We are pursuing these legal proceedings with all due vigor: We owe this to our shareholders, our employees and the taxpayers," Uniper CEO Klaus-Dieter Maubach was quoted by the press service.

Earlier, Uniper considered the force majeure announced by Gazprom for gas supplies to be a breach of contract and announced possible litigation. Since the end of August 2022, the concern has completely stopped receiving gas from Russia and considers this a violation of contractual obligations by Gazprom.

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