Trafigura has signed a new gas supply contract with Germany's state gas importer, SEFE (Securing Energy for Europe). This contract, valued at $1.5 billion, is designed for a duration of five years and includes the supply of over 150 terawatt hours of natural gas to Germany.
Details of the New Contract
The new gas supply contract allows Trafigura to supply SEFE from its global gas portfolio. The first gas delivery under this contract is scheduled for November 1, 2026. According to SEFE, the annual gas volume under this new contract will increase to 30 terawatt hours, compared to about 23 terawatt hours per year in the previous contract.
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Government Support and Supply Security
The Trafigura loan contract for gas supply is partially supported by the UFK (Untied Loan Guarantee) from the Federal Republic of Germany, in cooperation with Euler Hermes Aktiengesellschaft. This program is designed as a tool for securing long-term delivery of strategic goods to Germany.
Frédéric Barnaud, the commercial director of SEFE, stated regarding this new contract: "These types of partnerships strengthen our ability to supply natural gas from diverse sources and enhance our position as a reliable energy supplier for German and European customers."
Gas Storage Status in Germany
Germany is currently working to increase its gas reserves before winter, as the amount of gas in storage sites is historically low. According to data, as of October 28, gas storage sites in the European Union are only 75% full, and Germany's reserves, which are the fourth largest in the world, are only just below 62% full.
Although gas storage levels in Germany are significantly low, thanks to diverse import capabilities, the country is not facing a gas supply shortage. One of Germany's largest gas importers, VNG, announced at the end of last month that despite historically low gas levels in storage, the country is not facing a supply shortage.
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