Commodities
Germany Still Trades Russian Gas as Canceling Costs €10 Billion
- SEFE has picked up two Russian LNG cargoes destined for India
- Government faces dilemma over costs versus political rhetoric
A terminal for liquified natural gas floating stations near Wilhelmshaven, Germany.
Photographer: David Hecker/Getty ImagesThis article is for subscribers only.
Germany is still trading Russian liquefied natural gas, as canceling the contract of a nationalized firm could cost billions of euros — creating a dilemma for Berlin and potentially benefiting Moscow.
SEFE GmbH — a former unit of Gazprom PJSC — is shipping Russian LNG under the terms of a legacy contract that existed before Germany took over the company last year. The cargoes, which aren’t subject to international sanctions, are bound for India.