Safeguarding Europe's gas supply
Security of supply has emerged as one of the dominant themes in commodity markets.
In 2022 we committed to provide significant volumes of gas to Germany for the next four years, supplying Securing Energy for Europe (SEFE), an organisation that has received funding from the German government.
The gas is sourced from our global network of suppliers, including the long-term contracts we have secured with major US producers of liquified natural gas (LNG).
Using the storage and regasification capacity we control across Europe, we are able to deliver the gas when and where it is needed.
To support this supply agreement, we raised USD3 billion from a consortium of banks, backed by an insurance policy from Germany’s Export Credit Agency.
This deal shows how the public and private sectors can work together to strengthen supply chains.
“We are proud to be contributing to Europe’s energy security by supplying this significant volume of gas to Germany.”
Richard Holtum
Global Head of Gas, Power and Renewables
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