Home ›› 07 Dec 2022 ›› World Biz

Germany’s RWE takes action against Gazprom over supply halts

AFP . Frankfurt
07 Dec 2022 00:03:24 | Update: 07 Dec 2022 00:03:24
Germany’s RWE takes action against Gazprom over supply halts

German energy firm RWE said Tuesday it is taking legal action against Russia's Gazprom over halted gas supplies, the latest German company to do so since Moscow invaded Ukraine.

Following the invasion, Gazprom steadily dwindled pipeline supplies to Germany in apparent retaliation for Western sanctions on Russia, sending energy prices soaring.

Last week, German energy giant Uniper said it was seeking damages from Gazprom at an international tribunal, as the Russian company's failure to deliver gas had cost them billions of euros.

An RWE spokeswoman confirmed to AFP the company had also launched action, but declined to give further details.

Gazprom's failure to deliver promised supplies has meant that German companies, long heavily reliant on Russian energy, had to buy gas on world markets at far higher prices.

Financial daily Handelsblatt reported that the costs incurred by RWE were likely lower, at around one billion euros ($1 billion), than those faced by Uniper.

×