German State Gas Company Seeks Expansion Before Privatization

📆 19/9/2024 3:47 PM
📰 OilandEnergy

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Germany,Natural Gas,LNG

Germany's energy company SEFE is securing long-term natural gas supplies through LNG deals with various countries in preparation for privatization before 2030.

Securing Energy for Europe, or

is the entity that the German government created after the nationalization of Gazprom’s German business soon after Russia invaded Ukraine in 2022. For most of that year, Europe’s biggest consumer of Russian gas struggled to secure enough supply and ended up with also signed a big, long-term deal with Norway’s Equinor. Worth some $55 billion, the deal would see Equinor supply the German state firm with 10 billion cu m of natural gas annually over the period between 2024 and 2034. There is also an option for another five years of supply. This year, another LNG deal followed, this time with Emirati Adnoc. This one is for 1 million tons of liquefied natural gas, delivered annually for a period of 15 years.

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