German Company Resumes Trading LNG with Russia

A German company that was previously nationalized due to its ties to Russia has resumed trading liquefied natural gas (LNG) with Russia.
According to Ukrinform, Bloomberg reported this.
“The German government is facing criticism over its energy ties as a taxpayer-backed company re-enters the liquefied natural gas trade with Russia,” the article says.
SEFE, a former subsidiary of Russia’s Gazprom, plans to load gas liquefied by the Yamal plant in Siberia early next month.
“Germany nationalized the company, known as SEFE, last year at the height of Europe’s energy crisis,” Bloomberg reminds.
The agency notes that the Russian gas cargo is heading to India, but “a German state-owned company doing deals with Russia is causing some alarm.”
“SEFE’s Amur River vessel will pick up the Russian cargo via transshipment in Belgium on Oct. 1 and deliver it in India later in the month,” Bloomberg says, citing port data.
At the same time, the company assured that it was in no way violating European sanctions.
“German ports are not involved in this process, nor are European or German gas networks. These delivery volumes therefore do not reach the German market, industry or consumers in Germany,” the SEFE spokesperson emphasized.
Bloomberg explains that SEFE has long-term contracts for the purchase of certain volumes of Yamal LNG that it inherited from its former Gazprom. The company also has certain long-term commitments to supply India.

About Parvin Faghfouri Azar

Check Also

China’s Natural Gas Imports Rose by 14% in First Half of 2024

China’s imports of natural gas, including via pipeline and LNG cargoes, increased by 14.3% in …

Leave a Reply

Your email address will not be published. Required fields are marked *