Uniper’s CEO met with the Putin administration in Moscow as recently as November
Uniper to honour Russian gas contracts
German utility writes off Nord Stream 2 investment but cites supply security for maintaining contractual supply
Germany’s Uniper will not cancel its import contracts with Russia’s Gazprom on the grounds of maintaining European gas supply security. But it will record a full impairment loss on its financing of the ill-fated Nord Stream 2 pipeline, resume the sales process of its Russian power generation arm as soon as possible and sign no more agreements for Russian gas imports. Uniper, majority-owned by Finnish utility Fortum, has c.35.7bn m³ of gas under multi-year long-term supply deals, of which 19.3bn m³ is Russian. “Uniper sees it as its mission to do everything in its means to supply people in Germany and Europe with energy… especially in these volatile times, the firm says, promising to “continu
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
