Overview

• Sefe, formerly Gazprom Germania, has repaid an additional €450 million to the German federal government, bringing the total repayment to €725 million.
• The company was nationalized in 2022 during the energy crisis caused by Russia's invasion of Ukraine and received €6.3 billion in state equity approved by the EU Commission.
• Future repayments, including one scheduled for 2026, will depend on Sefe's financial performance, as per the repayment conditions set by the EU.
• The EU has mandated that the German government largely privatize Sefe by the end of 2028 as part of its regulatory framework.
• Sefe, now a major player in Germany's gas supply chain, serves over 50,000 customers ranging from small businesses to multinational corporations.