Centrica, QPI to buy C$1 bln of natural gas and oil assets

LONDON, April 15 Mon Apr 15, 2013 2:18am EDT

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LONDON, April 15 (Reuters) - British utility Centrica and Qatar Petroleum International (QPI) have bought a package of natural gas and crude oil assets from Suncor Energy for C$1 billion ($987 million), the two companies said on Monday.

The assets, which are located in the Western Canadian Sedimentary Basin, will be held in a new partnership in which Centrica will own a 60 percent share with the remaining 40 percent owned by QPI.

QPI is the international arm and wholly owned subsidiary of Qatar Petroleum. The deal is the first investment for the two companies since they signed a memorandum of understanding in Dec. 2011.

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