Russia's Gazprom faces almost $20 billion in lawsuits from European energy firms
European energy firms have filed lawsuits against Russian energy giant Gazprom totaling 18 billion euros ($19.6 billion) over gas supply cuts, the Moscow Times reported on March 10.
The claims stem from Gazprom's decision to drastically reduce gas deliveries to Europe in 2022 after Russian President Vladimir Putin demanded that payments be made in rubles.
When European customers refused, Gazprom significantly cut supplies, including through the Nord Stream pipeline.
The total amount of claims against Gazprom is nearly equal to its net revenues from gas exports, which include $10 billion from sales to Europe and Turkey, $7 billion from China, and $2 billion from Central Asia and the Commonwealth of Independent States (CIS).
The largest lawsuit was filed by German energy company Uniper, formerly Gazprom's biggest client in Germany and a co-investor in the Nord Stream 2 project.
The company imported 20 billion cubic meters of Russian gas annually and is seeking 14.3 billion euros ($15.5 billion) in damages over losses incurred after Russian supplies were halted.
Gazprom has responded with counterclaims in Russian courts, seeking to block legal proceedings outside Russia.
The Financial Times reported on March 2 that Matthias Warnig, a former Stasi officer and longtime ally of Putin, has been lobbying the U.S. to support a potential restart of the Nord Stream 2 pipeline.
The pipeline, which was co-financed by five European energy firms, was severely damaged in an apparent sabotage attack in September 2022.
Martin Fornusek
