Germany relaunches privatization of former Gazprom unit Sefe

Germany's federal government has initiated the re-privatization process of Sefe, the former Gazprom subsidiary, with the Economy Ministry launching a tender. The process will use a dual-track approach, preparing the asset for both sale and an initial public offering. The privatization could raise an additional 2 billion euros for company expansion, with a decision on sale or stock market listing required by November 1. State development bank KfW and several investment banks have already submitted applications, though potential investors reportedly show limited interest. Sefe, renamed from Gazprom Germania in summer 2022, was placed under state control that year after facing bankruptcy threats due to Russian counter-sanctions. The company holds about 10% of Germany's gas transmission network and 25% of storage capacity, recording 289 million euros in net profit for 2025.