Clean Break: the company completely halting Russian engagements or exiting Russia
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Uniper SE is an energy company based in Düsseldorf, Germany. The name of the company is a portmanteau of "unique" and "performance" given by long-term employee Gregor Recke. Uniper was formed by the separation of E.ON's fossil fuel assets into a separate company that began operating on 1 January 2016.
Clean Break: the company completely halting Russian engagements or exiting Russia
Leave WithdrawalSuspend new Russian gas purchases/divest Unipro. Uniper had found a local buyer for Unipro, it had yet to receive “presidential approval”, suggesting the sale was being personally blocked by Putin. The Federal Property Management Agency received foreigners' shares in Unipro and Fortum under temporary management. Uniper's subsidiary was threatened with a fine of €14.3 billion in case of a claim against Gazprom outside the Russian Federation. The energy company Uniper transferred EUR 530 million to the German budget as part of the dispute with Russia's Gazprom about compensation for damages for under-received gas. Uniper has won a multi-billion arbitration case against Russian energy corporation Gazprom. This allows Uniper to terminate inactive gas supply contracts and potentially sets a precedent for similar cases. The European Union has accepted that Uniper cannot meet a key condition of its 13.5 billion euro ($16.2 billion) bailout because the German utility is unable to sell its Russian subsidiary, which is now under Moscow's control, Uniper's CEO said.
Continue its divestment in Unipro. No new long-term natural gas supply contracts with Russia. Full impairment loss on the Nord Stream 2. Statement condemning Russian invasion of Ukraine. (Operates 5 power plants in Russia under Unipro). Uniper takes €4bn hit after losing control of Russian subsidiary. The German energy concern Uniper does not count on the resumption of Russian gas supplies and is waiting for a court decision on a lawsuit against Gazprom Export for gas supplies no earlier than 2024. Uniper decided to terminate its long-term Russian gas supply contracts and thus legally ended the long-term gas supply relationship with the Russian state-owned company Gazprom Export. The decision was made possible after an arbitration tribunal on June 7, 2024 awarded Uniper the right to terminate the contracts and awarded it an amount of more than €13 billion in damages for the gas volumes not supplied by Gazprom Export since mid-2022. European energy companies have filed lawsuits against Gazprom, seeking a total of €18 billion in compensation for the disruption of gas supplies. The largest lawsuit, worth €14.3 billion, was filed by the German company Uniper. In June 2024, the Stockholm Arbitration Court ruled in Uniper's favor. Uniper, which has repaid most of its claims against former main gas supplier Gazprom, is opening a new tab during the first quarter 2025, the German utility company said.