2024-06-13 05:02:48
The quantity at stake is 13 billion euros: the pure gasoline big Uniper is entitled to compensation from the Russian firm Gazprom. However it’s questionable whether or not the funds shall be made.
The power firm Uniper has drawn a remaining line below its long-standing gasoline provide relationship with the Russian state-owned firm Gazprom. Uniper has terminated the contracts after an arbitration courtroom granted the corporate the appropriate to take action on June 7, Uniper introduced on Wednesday.
Though gasoline had solely been flowing to a restricted extent since June 2022 and no gasoline had flowed for the reason that finish of August 2022, the long-term gasoline provide contracts have been nonetheless legally legitimate. The courtroom had awarded Uniper a declare for damages of 13 billion euros from Gazprom.
Uniper mentioned it’s presently unattainable to estimate whether or not any quantities are to be anticipated. But when they’re, they’d go to the state, which has held greater than 99 p.c of Uniper since 2022.
The corporate was primarily lively within the gasoline enterprise and sourced pure gasoline from Russia. When provides stopped in 2022 after the assault on Ukraine, it nearly went bankrupt. The federal authorities stepped in with 13.5 billion euros and took over the corporate.
Issues began to select up once more firstly of 2023. Final yr, the group made wholesome income of 4.4 billion euros. Repayments to the federal authorities are scheduled to start in 2025.