Compensation of more than €13 billion has been awarded to German state energy company Uniper.
Although the agreement was supposed to last until 2030, the German state energy company “Uniper” announced on Wednesday that it would terminate the contracts concluded with the gas export company affiliated with the Russian company “Gazprom”, as the Russian side began not to fulfill them after a short time. From the beginning of the agreement. Invasion of Ukraine in mid-2022.
According to the German company, terminating the contracts became possible pursuant to the arbitration decision issued last June 7 in the dispute between the two companies, in which the Stockholm Arbitration Court permitted it to do so.
The long-term gas supply agreements between the two companies originally ran until the mid-2030s. Analysts see there is little chance that Gazprom would pay for the export, but if it did, the amount would increase the German federal budget, as Uniper is 99% state-owned. The hundred.
Uniper became the property of the German state in 2022, after Russia responded to European Union sanctions by stopping gas supplies to Germany. The German state spent tens of billions of euros to rescue the company, thus ensuring that the loss caused by the fact that Uniper had a large futures delivery contract based on the gas contract could be covered.
