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The German energy company RWE AG initiated arbitration proceedings against Gazprom due to a shortage of gas. This is reported by “businessman” with reference to the publication Handelsblat.
The other day it was reported that the German Uniper also applied to the arbitration court in an attempt to compensate 11.6 billion euros from Gazprom for the undelivered gas volumes since June. The Russian company denied violating the contract with Uniper. They considered unlawful claims for damages.
According to Kommersant, the proceedings with RWE AG do not concern long-term contractual obligations, as is the case with Uniper. In this case, we are talking about several small contracts concluded several years ago on the Gazprom Export electronic trading platform. The lawsuit from RWE, according to the interlocutors of the newspaper, was received earlier than from Uniper.
It is specified that about 18.5 billion cubic meters were supposed to come to Uniper from Russia, RWE expected that by 2023 the volume of deliveries would be 1.4 billion cubic meters. Due to the reduction in supplies from the Russian Federation, this volume decreased to 0.4 billion cubic meters. Reuters points out that as a result, RWE was forced to buy replacement gas on the more expensive spot market, at a significant cost to the company.
Analysts estimate that RWE has likely incurred costs of €1bn.
Source: Росбалт by www.rosbalt.ru.
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