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Centrica Plc Signs GBP4.4 Billion Gas Deal With Qatar


Wednesday, 6 Nov 2013 06:30am EST 

Centrica Plc announced it has entered into a 4 ½ year LNG supply agreement with Qatargas for the purchase of up to 3 million tonnes per annum of liquefied natural gas (LNG). The GBP4.4billion deal builds on Centrica's existing agreement with Qatargas, signed in February 2011, and could provide gas to meet approximately 13% of UK annual residential gas demand, enough to meet the needs of around 3 million households. The previous contract Centrica signed with Qatargas comes to an end in June 2014. With increasing global competition from emerging economies for LNG, and declining North Sea production, this transaction secures important gas supplies for Centrica and the UK to December 2018. 

Company Quote

302.5
2.7 +0.90%
31 Oct 2014