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MOSCOW, June 12 Uniper has terminated long-term contracts with Gazprom Export for gas supplies from Russia, the German energy concern reported.
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“Today, Uniper has decided to terminate long-term contracts for the supply of gas from Russia and thereby legally ended its long-term relationship with the Russian state company Gazprom Export,” the company said in a statement.
They added that the decision became possible after the Stockholm Arbitration Court on June 7 recognized Uniper's right to terminate the contracts and awarded it more than 13 billion euros in compensation for gas volumes not delivered by Gazprom Export. The arbitration court made its decision in accordance with Swiss law. Its decision is legally binding and final.
Gazprom Export stopped deliveries to Uniper in mid-2022. If limited volumes of gas were pumped in June, this also stopped in late August. At the same time, long-term contracts between the companies were still legally valid and individual contracts would have continued to be valid until the mid-2030s.
“After Uniper suffered significant losses due to restrictions on Russian gas supplies, the company initiated arbitration proceedings against Gazprom Export at the end of 2022. The possibility of resolving the dispute through arbitration was stipulated in the contract and has been used repeatedly in the past by both parties in relation to others disputes,» the company clarified.
sent requests to Gazprom and Gazprom Export.
Many European countries in 2022 lost — partially or completely — gas from Gazprom. In the spring, it reduced or stopped deliveries to Bulgaria, Poland, Finland, the Netherlands, Germany and Denmark, mainly citing failure to comply with a presidential decree on payment in rubles or other technical reasons. By the fall, supplies along the main route, Nord Stream, had ceased.
Pumping along the balancing Belarusian route «Yamal — Europe» also stopped, and along the Ukrainian route it significantly decreased.