Energy
Germany’s SEFE Is Looking for More Gas Before Privatization
- Former Gazprom unit was nationalized by Germany in 2022
- US, Azerbaijan are among options to increase supply, CEO says
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German state-owned gas company SEFE is looking to expand its supply base before being privatized later this decade, according to Chief Executive Officer Egbert Laege.
SEFE, or Securing Energy For Europe GmbH, was created after Russia invaded Ukraine in 2022 when Berlin nationalized the German operations of Gazprom PJSC. During the tumultuous period that followed — with Germany scrambling to replace the Russian gas that had met more than half its needs — it was cut off from supply but later Russia reinstated a long-term contract to buy liquefied natural gas from Yamal LNG in the Arctic region.