Connect with us
Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

NEWS

Trafigura enters $3 billion loan to supply Germany’s Sefe with gas

Trafigura enters $3 billion loan to supply Germany's Sefe with gas 41

FRANKFURT (Reuters) – Commodities trading firm Trafigura on Monday said it has entered into a $3 billion four-year loan to supply gas to German gas trader Sefe, formerly known as Gazprom Germania, and help Europe’s largest economy secure volumes long-term.

“We are proud to be contributing to Europe’s energy security by supplying this significant volume of gas to Germany backed by our extensive portfolio and long term US LNG contracts,” Richard Holtum, Head of Gas and Power Trading for Trafigura, said.

The deal comes as Germany is struggling to replace Russian gas volumes, formerly its biggest source but supply of which was fully stopped in August, with alternatives.

The loan is jointly arranged and underwritten by Deutsche Bank and another international bank. Over 25 banks participated in the syndication.

The loan is partly secured by a guarantee under the Untied Financial Loan program of the German government acting through the German Export Credit Agency Euler Hermes AG, a division of Allianz.

Trafigura said it would mainly use existing quantities from its global gas and LNG portfolio to cover supplies to Sefe.

 

(Reporting by Christoph Steitz; Editing by Paul Carrel)

 

Continue Reading