By Christoph Steitz and Tom Käckenhoff

FRANKFURT, Reuters – German utility Uniper stated Wednesday that it was evaluating whether Gazprom’s Nord Stream 2 suspension will cause impairments to its exposure of 1 billion euros ($1.1 billion) to the pipeline.

Uniper is majority owned by Fortum of Finland. Uniper stated that the Ukraine crisis escalation had meant Nord Stream 2 was “could delay more or be affected otherwise”, and that it was continuously monitoring the situation.

Berlin halts Nord Stream 2 on Tuesday, which will double Russian gas flow to Germany after Moscow recognizes two regions of eastern Ukraine as independent.

Uniper, one of five companies who have invested 950m euros in the pipeline, has warned that it could have to affect the Nord Stream 2 loan if the project is not completed.

After presenting the full year results, Uniper CEO Klaus Dieter Maubach said that they were evaluating “the impact of yesterday’s decision regarding our claims towards Nord Stream 2 and potential impairment implications.”

The 9.5 billion Euro pipeline was shut down by Chancellor Olaf Scholz. He stated that the recent events had prompted Germany’s Economy Ministry to do a fresh assessment of whether the project could threaten its energy supply.

It means that one of the most important requirements in certification has been missing. This effectively leads to an indefinite hiatus for the pipeline which could be bypassed by Ukraine.

Uniper’s shares fell 6.9%, to their lowest level since September 3.

OMV Austria said Tuesday that it does not currently feel the need to write down its participation in Nord Stream 2

Maubach stated that Uniper is not looking into legal options in connection to suspension. He hopes that the pipeline can be certified after a diplomatic resolution to the Ukraine crisis.

Shell (LON :), Engie France and Wintershall Dea Germany are the other co-investors. They will hold their annual press briefings on Thursday.

($1 = 0.8810 euros)