{"id":6481,"date":"2022-12-07T09:46:21","date_gmt":"2022-12-07T09:46:21","guid":{"rendered":"https:\/\/euromenaenergy.com\/?p=6481"},"modified":"2022-12-07T09:46:21","modified_gmt":"2022-12-07T09:46:21","slug":"trafigura-to-secure-us-lng-supply-for-germany-in-us3bn-deal","status":"publish","type":"post","link":"https:\/\/emimer.com\/?p=6481","title":{"rendered":"Trafigura to secure US LNG supply for Germany in US$3Bn deal"},"content":{"rendered":"

Some US$3Bn in US LNG will make its way into the German gas grid as part of a four-year loan deal between the German Government, more than 25 banks including Deutsche Bank and commodities trader Trafigura.<\/p>\n

The supply has been agreed based on the loan facility that is partly secured under Germany\u2019s United Financial Loan programme, through the German Export Credit Agency Euler Hermes Aktiengesellschaft.<\/p>\n

The loan has been jointly arranged and underwritten by Deutsche Bank and another unnamed international bank and syndicated to more than 25 banks in a transaction that was, according to Trafigura, “1.6 times oversubscribed”.<\/p>\n

“The loan will support a new commitment by Trafigura to deliver substantial volumes of gas into the European gas grid, and ultimately into Germany, over the next four years.<\/p>\n

Trafigura will supply the gas to Securing Energy for Europe (SEFE), which was recently recapitalised by the German Government. The first gas delivery took place 1 November 2022 and Trafigura will primarily use existing quantities from its global gas and LNG portfolio to help secure gas supplies to SEFE. The agreement included a review of Trafigura\u2019s environmental, social and governance policies and performance,” a statement from the trader said.<\/p>\n

\n

\u201cWe are proud to be contributing to Europe\u2019s energy security by supplying this significant volume of gas to Germany backed by our extensive portfolio and long-term US LNG contracts,\u201d said Trafigura head of gas and power trading Richard Holtum.<\/p>\n

About 50% of Germany\u2019s natural gas has been supplied by Russia in recent years, and as a result, Germany has enacted emergency energy measures, announcing multiple LNG import terminals, including five based on FSRUs, since the start of Russia\u2019s war against Ukraine.<\/p>\n

In April, the German Finance Ministry approved spending \u20ac2.94Bn (US$3.09Bn) to fund the FSRUs, with Uniper and RWE signing 10-year charter deals on behalf of the German Government to secure two FSRUs each from H\u00f6egh LNG and Dynagas and an additional FSRU coming from US-based Excelerate Energy.<\/p>\n

The two H\u00f6egh LNG 170,000-m3<\/sup>\u00a0FSRUs will be deployed in Germany, one at Wilhelmshaven and another at Brunsb\u00fcttel as the country\u2019s first LNG import hubs.<\/p>\n

The 5Bn-m3<\/sup>\u00a0H\u00f6egh LNG FSRU is scheduled\u00a0to arrive<\/a>\u00a0at the turn of the year. However, due to the grid capacities, only about 3.5Bn m3<\/sup>\u00a0(about 4% of Germany\u2019s gas requirements) of natural gas per year can then be transported via this pipeline before the construction of a new 55-km pipeline is completed.<\/p>\n<\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Some US$3Bn in US LNG will make its way into the German gas grid as part of a four-year loan deal between the German Government, more than 25 banks including Deutsche Bank…<\/p>\n","protected":false},"author":1,"featured_media":6482,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[40,46,48,50,57,68,76,77,78,79,80,82,86,87,88,90,95,96,98,99,103,107,109,111,112,114,121,123,137,139,146,148,153,159,174,176,181,182,184,187,196,201,202,203,209,217,221,222,229,231,232,233,239,241,244,246,249,250,251,252,256,262,263,266,268,277,279,280,283,285,288,300],"class_list":["post-6481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lng","tag-alleviation","tag-aramco","tag-athens","tag-athensenergydialogues","tag-baroudi","tag-carbon","tag-climate","tag-climate-change","tag-climateaction","tag-climatechange","tag-closure-of-nuclear","tag-co2","tag-cyprus","tag-decarbonising","tag-decarbonization","tag-democracy","tag-disputes","tag-doha","tag-east","tag-eastmed","tag-egypt","tag-embargo","tag-emissions","tag-energy","tag-energy-market","tag-energyindustry","tag-europe","tag-european-fuels","tag-gas","tag-gazprom","tag-greece","tag-greenenergy","tag-hydrocarbons","tag-international","tag-lebanon","tag-liquefied-natural-gas","tag-maritime","tag-maritime-boundaries","tag-maritime-disputes","tag-mediterranean","tag-natural-gas","tag-offshore","tag-oil","tag-oil-and-gas","tag-opec","tag-peace","tag-plants","tag-pollution","tag-poverty","tag-power","tag-putin","tag-qatar","tag-renewable-energy","tag-reserves","tag-rosneft","tag-roudi","tag-russia","tag-russia-in-the-european-energy-sector","tag-russian-gas","tag-russian-sanctions","tag-saudi","tag-solar","tag-solar-power","tag-straddling","tag-sustainability","tag-total","tag-trump","tag-turkey","tag-ukrain","tag-unclos","tag-usa","tag-300"],"_links":{"self":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/6481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6481"}],"version-history":[{"count":0,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/posts\/6481\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=\/wp\/v2\/media\/6482"}],"wp:attachment":[{"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emimer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}