European Gas Buyer Uniper Follows Oil Majors in Shunning Russia
- Uniper won’t enter into new energy contracts with Russia
- German utility recognizes impairment on Nord Stream 2
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One of the biggest European buyers of Russia’s natural gas won’t sign any new contracts with the country for long-term supply.
Germany’s Uniper SE will continue to receive fuel under its existing contracts, which play an essential role in Europe’s gas supplies, the Dusseldorf-based company said in a statement on Monday. It also plans to restart the divestment process of Unipro, which operates five power plants in Russia, and will recognize an impairment loss of its loans toward the Nord Stream 2 AG pipeline of 987 million euros ($1.1 billion).