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Uniper transferred EUR 500 million to Germany for claims against Gazprom

At the end of 2023, Uniper kept about EUR 2.2 billion for payments to Germany

Nov 5, 2024 13:21 131

Uniper transferred EUR 500 million to Germany for claims against Gazprom  - 1

Uniper transferred 500 million EUR for claims against "Gazprom" to the German authorities, the company said. On June 30, Uniper retained 540 mln. EUR to transfer compensation from damage claims against Gazprom Export Germany. "At the end of September, Uniper used part of this reserve and paid "530 million to Germany," the report said.

The company previously committed, as part of the stabilization measures of the German authorities, to transfer to the government all compensation payments it receives for the reduction of gas supplies, after deducting legal costs and taxes.

At the end of last year, Uniper reserved about EUR 2.2 billion for payments to Germany in connection with the aid granted to the company in 2022. At the end of September, the amount of this reserve was revised and increased to 2 EUR .5 billion. The exact amount of the payments will be calculated based on the company's financial indicators and transferred to the German authorities in early 2025, Uniper noted.

On June 12, Uniper announced the termination of a long-term gas contract with Gazprom Export. after obtaining the relevant permission from the Stockholm Arbitration. The company explained that on June 7, the arbitration court granted Uniper the right to terminate contracts and awarded it compensation in the amount of more than EUR 13 billion for the volumes of gas that Gazprom Export has not supplied since mid-2022. Until now, the long-term gas supply contracts between the two companies would last until mid-2030