DUESSELDORF (Reuters) – Uniper, which had to be rescued by Berlin during Europe’s energy crisis, expects a court decision this summer regarding billions of euros worth of damage claims it has logged against former top supplier Gazprom, its CEO said.
Uniper, Germany’s largest gas trader, in November 2022 initiated arbitration proceedings against Gazprom before an international tribunal, asking for compensation for suspended gas deliveries.
Gazprom in 2022 first cut and later fully suspended supplies via the Nord Stream pipeline, which was sabotaged, forcing Uniper to buy gas at sky-high prices on the spot market to fulfil its contracts.
As a result Germany had to step in to prevent the company from collapsing.
“We expect a decision in the summer,” Uniper Chief Executive Michael Lewis told journalists late on Tuesday, adding the case was worth “many billions of euros”.
(Reporting by Tom Kaeckenhoff; Writing by Christoph Steitz, Editing by Linda Pasquini)
