Germany’s Uniper confident it can keep Russian gas flowing

Germany’s Uniper confident it can keep Russian gas flowing

Energy, Uncategorized















Bloomberg

German utility Uniper SE is confident its next payment for Russian natural gas will comply with Kremlin demands without violating sanctions, in the latest sign that European companies and their Russian supplier are finding ways to keep the gas flowing.

Uniper, one of Europe’s biggest buyers of the fuel from Russia, will pay in euros when its next bill comes due at the end of the month, the company said. The payment will comply with Russia’s demand that supplies are ultimately paid in rubles, the utility said.

“A payment conversion compliant with sanctions law and the Russian decree should be possible,” a Uniper spokesman said.

European buyers of Russian natural gas have been trying to find a solution to keep the fuel flowing after Russia declared the need for clients to have two accounts with Gazprombank, one for euro payments and one for the ruble conversion. The European Union has said the mechanism would violate sanctions against Moscow.

Most payments under the new system come due this month, with Russian President Vladimir Putin warning shipments could be cut off if “unfriendly” nations don’t comply. Poland and Bulgaria were