Germany’s WINGAS GmbH has been renamed SEFE Energy GmbH as former Gazprom units consolidated
WINGAS GmbH, a former subsidiary in Germany of Russia’s Gazprom, has now been rebranded as a part of the SEFE Energy group, which is a business active in LNG import terminals, trading and portfolio management, transportation and storage of energy and is fully owned by the Federal Government of Germany.
The SEFE name comes Securing Energy for Europe (SEFE) GmbH, previously called Gazprom Germania and which came under German control and had its name changed after the Russian invasion of Ukraine in 2022 and subsequent sanctions and the shutting off of the Nord Stream gas pipelines from Russia to Germany.
The SEFE company also controls Germany’s largest gas storage facility and has capacity through the utility Uniper at the North Sea port of Wilhelmshaven and at Brunsbüttel on the Elbe River.
SEFE also has a stake in Germany’s proposed fifth LNG import terminal at the port of Stade, also located on the Elbe between Hamburg and Cuxhaven.
The German Government acquired all the shares in SEFE in November 2022 and thus became the sole owner of the group of Gazprom companies in Germany.
LNG supply deals
US LNG exporter Venture Global LNG and SEFE have signed a long-term Sales and Purchase Agreement.
Under the agreement, SEFE’s subsidiary, WINGAS GmbH, will purchase 2.25 million tonnes per annum of LNG from Venture Global’s CP2 project to be located next to the existing Calcasieu Pass plant.
SEFE has additionally signed an accord to receive future volumes from Oman.
“This rebranding marks a significant milestone for SEFE, as it brings all of the group’s sales businesses together under one identity across Europe,” said SEFE.
Over the past 30 years, WINGAS has established itself as one of the leading natural gas suppliers in Europe.
Based in the German city of Kassel and with a strong presence across Germany, the company supplies energy-intensive customers across Europe, including municipal utilities, regional gas suppliers, industrial companies and power plants.
In addition to WINGAS’s existing sales business, SEFE Energy also provides gas, electricity, and low carbon energy products to customers in the UK, France, and the Netherlands.
As an integrated sales organisation, SEFE Energy now supplies over 50,000 customers in seven European countries, with a sales volume of around 200 terawatt hours of gas and electricity.
“By leveraging the synergies of our sales teams across Europe, our customers benefit from a more comprehensive offering of energy products and services, helping them achieve their strategic energy goals,” said Matthias Peter, Managing Director of SEFE Energy.
CERAWeek warned on ‘chaotic’ energy transition and need for more US pipeline and oil investment
CERAWeek, the five-day conference taking place in Houston and attended by around 5,500 delegates including leading LNG sector executives as well as politicians and officials, had a successful start discussing the “turbulent” world and energy markets and with one of the first speakers stressing that the energy transition must be an orderly process.
EU and G7 price cap on Russian crude oil enters force on December 5 and may affect other markets
The price cap on Russian crude oil backed by the 27-nation European Union and the G7 group of leading western economies entered into force on December 5 and may have an impact on other energy markets and prices.
In addition to the price cap on Russian crude the EU-G7 coalition will cap prices of petroleum products such as gasoline from February 5 in 2023.
“The cap has been set at a maximum price of $60 per barrel for crude oil and will be adjustable in the future in order to respond to market developments,” said a statement on December 3 from the European Commission in Brussels.
“This cap will be implemented by all members of the Price Cap Coalition (EU and G7) through their respective domestic legal processes,” the Commission added.
The price cap, which comes on top of the EU import ban on Russian seaborne crude oil and oil products and the corresponding bans of the G7, is aimed at reducing the revenues Russia earns from oil as a sanction against the invasion of Ukraine in February 2022.
The G7 nations include the EU countries of France, Germany and Italy in addition to the US, Canada, Japan and the UK.
These measures apply to Russian crude oil falling under CN code 2709 00 and Russian petroleum products falling under CN code 2710.
Exceptions
“There is a 45-day wind-down period for seaborne Russian crude oil purchased above the price cap, provided it is loaded onto a vessel at the port of loading prior to 5 December 2022 and unloaded at the final port of destination prior to 19 January 2023,” the Commission explained.
“Maritime-related services and maritime transport can be provided during this period. There is no equivalent provision for petroleum products,” it added.
The Commission stated that “the EU's sanctions against Russia are proving effective and are damaging Russia's ability to manufacture new weapons and repair existing ones” as well as hindering its transport of material.
“The geopolitical, economic, and financial implications of Russia's continued aggression are clear, as the war has disrupted global commodities markets, especially for agrifood products and energy,” added the Commission.
The statement explained that the crude oil cap did not affect the full EU import ban on Russian crude and petroleum products and the specific exceptions and derogations which were already agreed in previous sanctions packages.
“These exceptions and derogations allow certain EU Member States to continue importing crude oil and petroleum products from Russia due to their specific situation or to import seaborne crude oil from Russia if the supply of crude oil by pipeline from Russia is interrupted for reasons beyond their control,” said the Commission.
“Specific projects which are essential for the energy security of certain third countries may be exempted from the price cap,” it added.
Analysts explained that while the EU's ban on importing Russian seaborne crude oil and petroleum products remains fully in place, the price cap will allow European operators to transport Russian oil to third countries, provided its price remains strictly below the ($60) cap.
“The price cap has been specifically designed to reduce further Russia's revenues, while keeping global energy markets stable through continued supplies,” said the Commission.
“It will, therefore, also help address inflation and keep energy costs stable at a time when high costs - particularly elevated fuel prices - are a great concern in the EU and across the globe,” it declared.
