FRANKFURT, Dec 5 Reuters Commodities trading firm Trafigura on Monday said it has entered into a 3 billion fouryear loan to supply gas to German gas trader Sefe, formerly known as Gazprom Germania, and help Europe39;s largest economy secure volumes longterm.

We are proud to be contributing to Europe39;s energy security by supplying this significant volume of gas to Germany backed by our extensive portfolio and long term US LNG contracts, Richard Holtum, Head of Gas and Power Trading for Trafigura, said.

The deal comes as Germany is struggling to replace Russian gas volumes, formerly its biggest source but supply of which was fully stopped in August, with alternatives.

The loan is jointly arranged and underwritten by Deutsche Bank and another international bank. Over 25 banks participated in the syndication.

The loan is partly secured by a guarantee under the Untied Financial Loan program of the German government acting through the German Export Credit Agency Euler Hermes AG, a division of Allianz.

Trafigura said it would mainly use existing quantities from its global gas and LNG portfolio to cover supplies to Sefe.

Reporting by Christoph Steitz Editing by Paul Carrel

Source Reuters