BERLIN – On Wednesday, SEFE, the German nationalized energy firm, said it signed a long-term agreement with ConocoPhillips (NYSE: COP) to purchase up to 9 billion cubic meters (bcm) of natural gas over the next decade.
Initial deliveries under the deal have already started, with gas supplied through various European trading hubs.
The company added that ConocoPhillips, which sources gas from Norwegian production and LNG imports, will contribute to SEFE’s annual demand of around 20 bcm.
“This partnership is a significant milestone in our ambitious path towards a diversified gas portfolio,” said Chief Commercial Officer Frederic Barnaud in a statement.
(Source: Reuters)
