Abu Dhabi National Oil Company (Adnoc) is reportedly in talks with the German government to acquire the gas trading unit of Berlin-based energy company Sefe. The German government’s advisers and Sefe (Securing Energy for Europe) executives have discussed the potential buyout by Adnoc, Bloomberg reported, citing unidentified sources. Talks are ongoing with other investors in […]Abu Dhabi National Oil Company (Adnoc) is reportedly in talks with the German government to acquire the gas trading unit of Berlin-based energy company Sefe. The German government’s advisers and Sefe (Securing Energy for Europe) executives have discussed the potential buyout by Adnoc, Bloomberg reported, citing unidentified sources. Talks are ongoing with other investors in […]

Adnoc in talks to buy Sefe’s gas trading unit

2025/12/04 14:20
2 min read
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Abu Dhabi National Oil Company (Adnoc) is reportedly in talks with the German government to acquire the gas trading unit of Berlin-based energy company Sefe.

The German government’s advisers and Sefe (Securing Energy for Europe) executives have discussed the potential buyout by Adnoc, Bloomberg reported, citing unidentified sources.

Talks are ongoing with other investors in the Middle East and Asia, the report said, without naming potential buyers.

A separation of the trading unit, which is expanding its LNG business through deals with Turkey and Argentina, would make it more attractive to Middle Eastern buyers.

The government is also considering reprivatising Sefe (formerly Gazprom Germania), Bloomberg reported, quoting an economy ministry spokesperson.

Sefe was nationalised in 2022 as part of a €6.3 billion ($7.2 billion) bailout. The company imports Russian LNG to Europe via France but has said it will stop doing so in the next two years when the European Union bans such shipments.

Adnoc’s board has allocated $150 billion in capital expenditure between 2026 and 2030 to maintain its oil and gas operations as the Middle East’s share of global oil production is predicted to grow in the coming years.

Further reading:

  • Adnoc gas push fuels Abu Dhabi’s global ambitions
  • Adnoc Gas profit up despite decline in revenue
  • Adnoc Gas predicts $250m windfall from FTSE inclusion
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