Germany received the first compensation for gas not delivered by Gazprom
Germany’s state budget received the first money for compensation for unreceived Russian gas.
The energy company Uniper transferred EUR 530 million to the German budget as part of the dispute with Russia’s Gazprom about compensation for damages for under-received gas. This was announced by the company’s press service on Tuesday, November 5.
As part of stabilization measures by the German authorities, Uniper has committed to handing over to the government any compensation payments it receives for cutting gas supplies, after deducting legal costs and taxes.
At the end of last year, Uniper had already recorded a provision of around 2.2 billion euros for expected payment obligations to Germany in connection with the aid granted in 2022.
“The company reviewed the size of the provision on September 30 and on this basis estimated it at slightly less than 2.5 billion euros. It will calculate the exact amount of the payment obligation based on its financial indicators for 2024,” the report says.
The funds are expected to be transferred to the German government in early 2025.
As you know, 19 companies from 11 European countries filed lawsuits against Russia’s Gazprom due to violations of gas contracts, and their total amount reached 18.6 billion euros, or 20.6 billion dollars.
It will be recalled that the arbitration court in Stockholm allowed the German company Uniper to terminate the long-term contract with Gazprom Export and awarded it EUR 13 billion in compensation for undersupply of gas from mid-2022.
In September, the Minister of Economy and Energy of Germany, Robert Habeck, announced that the country had overcome the shortage of Russian gas.
