Germany will begin the privatization of SEFE , the former Gazprom unit, to raise between €1.5 billion and €2 billion ($1.76 billion‑$2.35 billion) for infrastructure expansion. The move follows the 2022 nationalization of Gazprom's German business and follows a decade‑long debate over whether to break up, sell, or merge the entity, with a merger with Uniper also on the table, and a final decision targeted for 2030. In 2023, SEFE secured a long‑term LNG supply contract with Novatek from the Yamal LNG facility, which remains free of sanctions, and a $55 billion agreement with Equinor to deliver 10 billion cubic metres of natural gas annually from 2024 to 2034. The company also struck a 15‑year deal for 1 million tonnes of LNG annually with ADNOC , to be supplied from the Ruwais LNG project in Abu Dhabi, whose completion is delayed by the war. With the capital raise, SEFE aims to strengthen its supply base and infrastructure, positioning it as a more attractive investment for potential buyers and ensuring a diversified LNG portfolio for Germany.