SEFE and ConocoPhillips commence long-term gas partnership
23.10.2024
SEFE to purchase up to nine billion cubic metres of natural gas from ConocoPhillips over the next ten years
Agreement further strengthens security of energy supply for Germany and Europe
SEFE CCO Frederic Barnaud: “This agreement is an important milestone in pursuing our ambition to diversify our natural gas portfolio.”
SEFE Securing Energy for Europe and ConocoPhillips have recently entered into a new long-term natural gas agreement, under which first gas deliveries have been successfully completed. Over the next ten years, ConocoPhillips will deliver up to nine billion cubic metres of natural gas from their European portfolio to SEFE at various trading hubs across Europe.
ConocoPhillips has a large and growing European supply portfolio including Norwegian natural gas production and LNG imports. SEFE's European customer portfolio requires around 20 billion cubic metres of natural gas per year. This partnership is a perfect fit to balance the supply and demand of both companies.
“The long-term partnership between SEFE and ConocoPhillips is an important milestone in pursuing our ambition to diversify our natural gas portfolio,” emphasises SEFE CCO Frederic Barnaud, underlining the relevance of the agreement. “It demonstrates our commitment to securing energy supply for Europe.”
About SEFE
SEFE is an international energy company anchored in Europe, delivering energy solutions that ensure reliable and affordable supply. Our activities span the entire energy value chain – from origination and trading to sales, transport and storage. With decades of trading expertise and a growing LNG portfolio, SEFE is one of Europe’s leading suppliers to industrial customers, providing more than 200 TWh of gas and power each year. We supply over 50,000 clients, from small businesses to municipalities and multinational organisations. By investing in clean energies, we support our customers on their decarbonisation journey and contribute to the energy transition. SEFE employs over 2,000 people worldwide and is owned by the Federal Government of Germany.
