The German government becomes the sole owner of the SEFE Group

With effect from 14 November 2022, the Federal Government becomes the sole owner of SEFE Securing Energy for Europe ("SEFE") and thus of WINGAS. By way of an order pursuant to § 17a EnSiG, the Federal Ministry of Economics and Climate Protection (BMWK) first took over all shares in SEFE through a capital cut and then provided the company with new share capital of 225 million euros. The Federal Government holds the shares in SEFE indirectly through SEFE Securing Energy for Europe Holding GmbH (SEEHG).

This measure became necessary due to the suspension of deliveries as a result of Russia's sanctions directed against the SEFE Group.  Due to the sharp rise in gas prices over the course of the year, the company had to bear high costs for sourcing additional volumes to meet its existing supply obligations.

Managing Director of SEFE, Dr Egbert Laege, said: "We very much welcome this decision. Having the Federal Government as our shareholder means SEFE Group has a reliable and strong partner, enabling us to continue on our mission of securing the energy supply for Europe, now and for the future.”

The Federal Government's action also removes the uncertainty surrounding the question of the ownership of the SEFE Group. Already under the fiduciary management of the Federal Network Agency, the SEFE Group has fulfilled considerable tasks to secure the gas supply in Germany and Europe.

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