Germany's SEFE Secures Five-Year Gas Deal With Trafigura for 150 TWh
A new gas supply agreement starts in November and increases annual deliveries to 30 TWh, backed by a $1.5 billion financing package with partial German guarantees.
Germany's state-owned gas importer Securing Energy for Europe, known as SEFE, has agreed to purchase 30 terawatt-hours of natural gas annually from commodities trader Trafigura for five years beginning on 1 November 2026. The new contract covers 150 TWh in total and follows a four-year arrangement that expires at the end of October.
The previous supply contract provided about 23 TWh annually, meaning the new agreement increases contracted yearly volumes. The companies said the gas would primarily be drawn from Trafigura's global portfolio, rather than from a single specified production site. The contract is intended to diversify procurement and support German and wider European supply security.
Trafigura separately announced a five-year $1.5 billion loan agreement arranged by nine banks. The financing benefits in part from Germany's Untied Loan Guarantee programme, which supports access to strategically important commodities. The guarantee is not equivalent to the German government directly purchasing the entire gas volume or paying the whole loan.
Both companies confirmed the agreement on 29 October. The arrangement sets future deliveries and financing terms; the 150 TWh should not be mistaken for gas already delivered. It comes as European energy markets contend with supply uncertainty and elevated fuel prices.
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