The €13bn award stems from an arbitration hearing earlier this month, during which Gazprom was accused of breaching gas supply contracts.

European gas prices rose by 2.6pc following the decision, as energy traders signalled fears of disruption to Russian deliveries of gas elsewhere in Europe. 

In a statement on Wednesday, Uniper said: “Uniper decided today to terminate its long-term Russian gas supply contracts and thus legally ended the long-term gas supply relationship with the Russian state-owned company Gazprom Export.

“The decision was made possible after an arbitration tribunal awarded Uniper…