ConocoPhillips, SEFE begin 10-year natural gas supply agreement

ConocoPhillips has agreed to sell to German state-owned SEFE up to 9 billion cu m (bcm) of natural gas over the next 10 years from its European portfolio of assets to various trading hubs across Europe.

The agreement further strengthens security of energy supply for Germany and Europe, SEFE said in a release Oct. 23, noting its European customer portfolio requires around 20 bcmy of natural gas. First gas deliveries have been completed, the company said.