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Uniper reports €13bn Stockholm arbitration award against Gazprom, securing termination of long‑term gas supply contracts; separate Unipro dispute may proceed under BIT/ECT

Published on: 14 June 2024

Published by a Law360 reporter
Legal News
Article summary

This ruling provides legal clarity for Uniper.

The firm disclosed that an arbitral decision handed down on 7 June 2024, previously unpublicised, empowered it to end its agreements with Gazprom, a step it took on 12 June 2024. According to its statement, the €13bn award represents financial compensation for the gas volumes withheld by Gazprom Export. Uniper also added that, despite Gazprom supplying only restricted quantities after June 2022 and ceasing deliveries entirely from September that year, the underlying contracts remained legally valid. The company said several of those commercial arrangements would otherwise have persisted into the mid‑2030s...

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