German company SEFE is obliged to terminate the LNG supply contract with Russia

The German Ministry of Economy has ordered the state-owned SEFE, a former unit of Gazprom, to terminate its contract for the supply of Russian LNG. This decision was a response to the new EU sanctions against Moscow and the EU's general policy of refusing Russian gas. SEFE can declare force majeure as a legal basis for canceling the contract, which will allow it to withdraw from the agreement approved until 2040.

Source RBC

It is known that under the terms of the contract, SEFE is obliged to supply 2.9 million tons of LNG per year, but recent changes in EU legislation that prohibit the purchase of Russian LNG until the end of 2026 call into question the possibility of fulfilling this agreement. With the introduction of a new package of sanctions, the enemy intends to achieve a complete abandonment of Russian energy sources in the EU, so SEFE's further actions and its position in this situation will be of great importance for Germany's energy policy.