SEFE Inks Decade-Long Gas Deal with ConocoPhillips

SEFE, a German nationalized energy company, has entered a long-term agreement with ConocoPhillips to secure up to 9 billion cubic meters of natural gas over the next ten years. This move is part of SEFE's strategy to diversify its gas sources and meets its annual demand.

In a major energy sector development, Germany's nationalized energy firm SEFE announced a long-term agreement with ConocoPhillips. The deal secures up to 9 billion cubic meters of natural gas over the next decade.

Initial deliveries have commenced, with gas supplied through various European trading hubs. ConocoPhillips sources its gas through Norwegian production and LNG imports.

This partnership is pivotal to SEFE's strategy to diversify its gas portfolio, fulfilling a part of its annual 20 billion cubic meters demand, according to Chief Commercial Officer Frederic Barnaud.

(With inputs from agencies.)