As the year 2023 comes to an end, we would like to take this opportunity to look back with you on an eventful year. SEFE Securing Energy for Europe has experienced significant changes and progress this year, which have had a lasting impact not only on the development of the energy industry, but also on our partnerships and projects.
Since the German federal government has become the sole shareholder around twelve months ago, we have refocused the SEFE Group. With the introduction of the "SEFE Management Board", we were able to establish integrated corporate management across all units and optimise our strategic focus on the European core business. This will enable us to respond flexibly to changing market requirements and to operate more efficiently.
Securing the gas supply was also of particular importance this year. In view of the challenges on the European energy market, we have further diversified our procurement portfolio and increasingly focused on LNG. By gaining access to various LNG terminals and long-term supply contracts, we have created a solid basis for a long-term and stable supply. The gas supply agreement recently signed this week with the Norwegian company Equinor is another historic milestone in securing Europe's energy supply in the long term.
We have also made significant progress around hydrogen. The signing of the letter of intent with the Norwegian company Gen2 Energy for the supply of green hydrogen emphasises our commitment to the green transformation.
As a strong partner for our customers and clients, we will actively accompany you on the path to climate neutrality in the future and support you in the process of decarbonisation. Planned investments in scalable solutions will help to accelerate the green transformation and support you in achieving your sustainability goals.
The market situation in Germany and Europe remains characterised by the change in the gas supply situation. The extreme price volatility of the previous year has eased somewhat, but the supply shortage has led to a largely higher price level. Overall, the supply situation is better than in the previous year - well-filled gas storage facilities, stable imports and savings measures that have been introduced are contributing to this.
Let's take a look into the future together. In view of the structural development from the "pipeline market" to the "LNG market", we will once again be talking more intensively about measures such as long-term contracts with our customers as well as focusing our plans on promoting hydrogen procurement at the European level.
With an international team that has over 30 years of experience in the European energy markets, we will continue to work as an established and successful midstream company to secure the gas supply in Germany and Europe and actively drive forward the green energy transition.
We are very proud of the path we have taken as SEFE in this short time. On behalf of my colleagues, I would like to express my sincere thanks for the trust you have placed in us and look forward to continuing our successful collaboration in the coming year.
With these thoughts, we wish you and your families a peaceful and relaxing festive season and a healthy start to the New Year!
Yours, Matthias Peter
Chief Sales Officer (CSO) of SEFE