Germany has begun preliminary discussions with potential investors – including Abu Dhabi National Oil Co. – about a deal to buy the trading unit of SEFE, as the government looks at options for the future of the nationalized energy company.
The former European trading and supply unit of Gazprom PJSC, SEFE has retained a big team of traders and is expanding its LNG business through recent deals with Turkey and Argentina. The profile of the trading unit might appeal to Middle East companies wanting to get into gas markets. Separating trading out from more strategic assets like gas storage in Germany, could also make a deal easier to reach.
