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German Utility VNG Pauses Arbitration Claim Against Gazprom
By Bloomberg News
June 26, 2025 at 4:50 PM GMT+3
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German utility VNG AG has suspended its legal action against Russia’s Gazprom PJSC as the prospect of recovering funds dims, people with knowledge of the matter said.
Despite winning arbitration claims after Gazprom failed to fulfill supply contracts in 2022, companies such as Uniper SE are struggling to extract compensation payments. That’s partly because the Russian gas giant’s international assets shrank following the nationalization of Gazprom Germania at the height of Europe’s energy crisis.
Now Leipzig-based VNG, which used to source the bulk of its gas from Gazprom, is among firms putting their legal actions on hold, the people said, asking not to be identified as the matter is private. Pricey legal fees are another reason for the suspension, the people said.
In the most high-profile case since Gazprom halted some deliveries, Germany’s Uniper won more than €13 billion ($15 billion) in damages in an arbitration ruling that also allowed it to terminate Russian supply contracts, some of which ran until the middle of the next decade.
However, Uniper has so far only been able to recover about €530 million from canceled payment obligations to Gazprom, although it recently received another unspecified amount. In March 2024, a Russian court awarded Gazprom a counter-claim, fining Uniper €14.3 billion in return.
VNG declined to comment on legal issues. Gazprom didn’t immediately respond to a request for comment.
27.06.2025
manowar-723 (Черкаси,Україна)
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