Europe is attempting to bring in gas from other places than Russia, prompting the German state to guarantee a major loan for trading firm Trafigura in syndication with a number of banks.

More specifically, Trafigura has secured a loan agreement of USD 3bn with a four-year duration.

The deal has been made with 25 banks, with Deutsche Bank acting as underwriter, writes Trafigura in a statement.

The loan will enable Trafigura to supply Europe and thus Germany with gas for the next four years.

The agreement is guaranteed by the German Export Credit Agency (ECA) on behalf of the Untied Financial Loan program (UFK) of the government of the Federal Republic of Germany.

The UFK is ”a tool to secure the long-term delivery of strategic commodities to Germany.”

English edit: Kristoffer Grønbæk

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