Russia extends permit for LNG supplies to Germany's SEFE until 2040
(Reuters) - The Russian government has extended a permit for its Yamal LNG plant to supply LNG to German nationalized gas importer and trader SEFE until Dec. 31, 2040, according to a government document published on Friday.
SEFE, or Securing Energy for Europe, is the former German division of Russia's Gazprom GAZP.MM nationalized by the Berlin government in 2022 at a cost of billions of euros following the start of what Moscow calls its special military operation in Ukraine.
Russia banned trade with a number of companies including Gazprom Germania in 2022, but a year later the government made a special dispensation for the company to allow the LNG sales until the end of 2024.
The decision to extend the permission was published as Russia's largest liquefied natural gas producer Novatek NVTK.MM is facing sanctions and delays at its new Arctic LNG 2 project.
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