The Russian government has extended a permit for its Yamal LNG plant to supply LNG to the German nationalised gas importer and trader Securing Energy for Europe (SEFE) until the end of 2040. SEFE is the former German division of the Russian gas company Gazprom, that was nationalised by Germany in 2022 following the invasion of Ukraine.
Russia banned trade with a number of companies including Gazprom Germania in 2022, but in 2023 the Russian government made a special dispensation for the company to allow the LNG sales until the end of 2024. Gazprom Germania was put under Germany’s state trusteeship in April 2022 and secured close to €10bn in state-backed credit lines to ensure the country’s energy supply. In 2015, Yamal LNG had signed a long-term contract for supply of 2.9 Mt of liquefied natural gas to Gazprom Germania.
The announcement to extend the permission was unveiled as Russia's largest LNG producer Novatek is facing sanctions and delays at its new Arctic LNG 2 project.
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