German energy giant Uniper was forced to purchase natural gas at exorbitant prices, incurring daily losses of €100 million; the government nationalized it—how should this move be viewed?

Energy crisis intensifies: German government to nationalize Gazprom’s subsidiary According to media reports, the German government will nationalize the natural gas importer European Security Energy (SEFE) to prevent its bankruptcy. SEFE is the former German subsidiary of Russia’s Gazprom PJSC. The company holds assets and subsidiaries in Germany, the UK, Switzerland, Belgium, the Czech Republic, and some regions outside Europe; its operations are vital to the European natural gas market—and to industry and households alike. To ensure natural gas supply security, the German government took control of Gazprom’s German subsidiary in April this year and rebranded it as European Security Energy (SEFE). A spokesperson for Germany’s Federal Ministry for Economic Affairs confirmed that negotiations regarding SEFE’s nationalization are underway. Experts believe nationalization is feasible but may take several weeks to finalize. On Wednesday, German energy giant Uniper announced that the German government would acquire shares held by its parent company—Finnish energy firm Fortum—raising its stake to nearly 99%. This means the German government will formally complete Uniper’s nationalization.

Canada: Signs liquefied natural gas agreement with Germany

Asia-Pacific Daily, Hu Ningyou Canadian Natural Resources Minister Tim Hodgson stated on Wednesday that Canada has signed an energy agreement with German energy company SEFE to supply liquefied natural gas (LNG) from British Columbia’s coast to Germany. Under the agreement’s terms, the German company will purchase one million tonnes of LNG annually from Canada for 20 years, beginning in 2030, via the Ksi Lisims export terminal on British Columbia’s coast. This marks Canada’s first long-term LNG supply agreement with a European buyer. The Ksi Lisims facility—costing CAD $10 billion—is not yet under construction. In his statement, Hodgson said: “Today, the world needs safe, stable, and clean energy from reliable partners like Canada more than ever. This landmark agreement will deliver Canadian natural gas to new European markets, create jobs in British Columbia, and help Canada and Germany jointly advance our climate goals.” SEFE (full name: European Security Energy Company) is a German state-owned energy enterprise established after Germany severed its natural gas imports from Russia following the conflict in Ukraine.

German Energy Firm SEFE Enlists Lazard for Reprivatisation Efforts

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German state-owned energy firm SEFE has hired Lazard to explore reprivatisation options, with a sales process expected in 2027 to comply with EU rules reducing government ownership stakes.

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German Energy Firm SEFE Enlists Lazard for Reprivatisation Efforts

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