German Gas Trader SEFE Settles LNG Supply Dispute With India

Germany’s nationalized gas trader SEFE — a former unit of Russia’s state-owned Gazprom PJSC — has reached an agreement with India on a dispute over cancelled deliveries of liquefied natural gas, it said in a statement.

The settlement includes a payment of $285 million by SEFE’s Singapore trading subsidiary to state company Gail India Ltd., and the withdrawal of the arbitration proceedings. The matter had caused diplomatic tensions between Berlin and New Delhi at the height of the energy crisis in 2022, as gas prices soared and caused huge vulnerabilities in South Asia.

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