BERLIN, Nov 30 German gas importer Uniper sues against Gazprom demanding compensation for losses due to reduced supplies and their diversification, according to a statement on the company's website.
"Uniper initiated arbitration proceedings against the Russian company Gazprom Export (GPE) in an international arbitration court. <…> During the proceedings, which will be held in Stockholm, Uniper will file a claim for damages incurred by the company in connection with the volumes of gas that GPE has not delivered since June,” the publication says.
As specified, the damage associated with the diversification and purchase of raw materials at inflated prices, the company estimated at 11.6 billion euros.
In early November, Uniper announced a halt in gas supplies from Gazprom. They clarified that since June 14, imports have decreased, and since the end of August they have stopped completely. The company noted that in order to ensure the reliability of deliveries to customers and the fulfillment of contracts, as well as the timely replenishment of gas storage facilities on the eve of winter, Uniper purchases gas at significantly higher market prices.
Earlier it was reported that the German authorities would consolidate 99 percent of Uniper : first, an additional issue of shares will be carried out at a price of 1.7 euros for a total of eight billion euros, which will be completely bought out by the federal government. After that, the state will acquire the remaining share of Fortum for almost half a billion euros. Uniper, in turn, requested nine billion euros from the government in July, citing a cut in supplies from Gazprom.