Uniper Ends Long-term Gas Ties with Gazprom After Arbitration Victory

German utility Uniper has officially terminated its long-term gas supply contracts with Russia's state-owned Gazprom. The decision was enabled by a recent arbitration ruling, which also secured Uniper over 13 billion euros in damages for gas volumes not supplied since mid-2022.

(Adds details in paragraph 2) BERLIN, June 12 (Reuters) -

German utility Uniper on Wednesday said it had decided to terminate its dormant Russian gas supply contracts, officially ending its long-term gas supply relationship with Russia's state-owned Gazprom. Uniper said the move was made possible following a June 7 arbitration ruling that also awarded it more than 13 billion euros ($14 billion) in damages for the gas volumes not supplied by Gazprom since mid-2022.

($1 = 0.9311 euros)