SEFE Marketing & Trading Singapore Pte Limited ("SM&TS") and GAIL (India) Limited ("GAIL") are pleased to announce that they have reached an amicable settlement regarding the arbitration proceedings initiated by GAIL related to the non-supply of LNG cargoes to GAIL during 2022/2023. Deliveries to GAIL have been restored since March 2023.

The settlement includes a payment of US$ 285 million by SM&TS to GAIL and withdrawal of the arbitration proceedings. The Parties are committed to moving forward with their long-term relationship.

The settlement has been disclosed by GAIL to the Bombay Stock Exchange and the National Stock Exchange of India.

About SEFE
SEFE, an international energy company, ensures the security of supply and drives the decarbonisation of its customers. SEFE’s activities span the energy value chain, from origination and trading to sales, transport and storage. Through its decades-long expertise in trading and the development of its LNG business, SEFE has become one of the most important suppliers to industrial customers in Europe, with an annual sales volume of 200 TWh of gas and power. Its 50,000 customers range from small businesses to municipalities and multinational organisations. By investing in clean energies and especially in the hydrogen ecosystem, SEFE is contributing to the energy transition. The company employs around 2,000 people globally and is owned by the Federal Government of Germany.

Securing energy – now and for the future.