Daily Management Review

Trafigura receives $3 billion loan from Germany to supply gas


The German government provided a portion of the $3 billion syndicated loan to the Swiss commodities trader Trafigura Group, which would be used to supply the nation with natural gas.

Trafigura received a loan for a period of four years as part of an arrangement with the German government to guarantee a sizable supply of natural gas in the nation. The first gas supply delivered under the terms of the deal with the German government, according to the company, took place on November 1.

In the past few months, Trafigura has obtained two loans from the German government. The business received a $800 million loan in October to ensure local metal supplies.

Jeremy Weir, CEO of Trafigura, had stated that Europe will be able to escape gas shortages due to the comparatively warm winter. However, if the weather remains constant and Russian gasoline deliveries through Ukraine continue, its stockpiles are anticipated to decrease by around two-thirds.

source: dw.de