European energy companies have filed 18 billion euro lawsuits against Gazprom over the cessation of gas supplies. This is almost twice as much as the Russian monopoly has in cash reserves, LIGA reports.
► Read the telegram channel “Minfina”: main financial news
The largest claim, €14.3 billion, was filed by Germany's Uniper. In June 2024, the Stockholm Arbitration Court granted it in full. Poland's Europol Gaz is demanding €1.55 billion for losses due to the shutdown of the Yamal-Europe gas pipeline. Other plaintiffs include:
- Engie (France) — 305 million euros; OMV (Austria) — 575 million euros; CEZ (Czech Republic) — 58 million euros; ZSE Energia and Vychodoslovenska energetika (Slovakia) — 9 and 4 million euros; DXT Commodities (Switzerland) — 385 million euros; Axpo Solutions (Switzerland) — 623 million euros.
Gazprom has filed 13 counterclaims in the St. Petersburg Arbitration Court, trying to block the consideration of cases outside Russia.
The total amount of claims is almost equal to Gazprom’s annual revenue from gas exports: $10 billion for sales to Europe and Turkey, $7 billion for exports to China, and $2 billion for deliveries to the CIS and Central Asian countries.
According to financial statements, as of September 30, 2024, Gazprom had 933 billion rubles ($10.5 billion), which covers only half of the claims filed.
🕵️ We created a short survey to learn more about our readers.
💛💙 Your answers will help us become better, pay more attention to the topics that interest you.
🤗 We would be grateful if you could take a minute to answer our questions.