FRANKFURT (Reuters) – The chief executive of German firm Sefe, formerly Gazprom Germania, is in talks with partners including Shell to significantly increase its supplies of liquefied natural gas (LNG) and meet demands of up to to 300 terawatt hours (TWh) per year.
“We are looking to have a diversified portfolio of Western European gas pipelines and global LNG,” Egbert Laege told Reuters on Thursday on the sidelines of a trip to Singapore where he was to meet with potential suppliers. .
Egbert Laege said the share of LNG in the company’s portfolio is expected to be around 20% in 2023 and that it was in “intensive talks” with possible business partners, including Shell, to increase it.
He also said the Sefe (Securing Energy for Europe) project would require public funding from Berlin, beyond the agreed 9.8 billion euros ($9.7 billion).
Gazprom Germania, one of the main importers of natural gas in Germany, from which the Russian Gazprom withdrew in April, has been placed under the supervision of the German state.
Sources told Reuters on September 22 that Germany was considering nationalizing Sefe to protect it from bankruptcy, but the operation could take weeks.
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(Report Vera Eckert and Christoph Steitz, French version Tristan Chabba, edited by Sophie Louet)
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