Key Developments: Centrica PLC (CNA.L)

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Latest Key Developments (Source: Significant Developments)

Centrica Plc signs agreement to sell Race Bank wind farm project to Dong Energy
Thursday, 12 Dec 2013 10:30am EST 

Centrica Plc:Says it reached an agreement to sell its Race Bank offshore wind farm project to Dong Energy A/S's Dong Energy Power (UK) Limited for 50 million pounds.Says with Centrica having taken the project through the planning and Front End Engineering Design phase, Dong Energy will take forward the project’s development.Says Race Bank is situated 27 km off the Norfolk Coast and was consented in 2012.Says once fully developed it could meet the equivalent annual electricity demand of more than 450,000 UK homes.Says following completion of the transaction, Centrica will retain equity interests totaling 290MW in four operational wind farms in the UK.  Full Article

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.  Full Article

GRUPA LOTOS SA Pays Centrica Plc USD 176 Million For Share In North Sea Licenses-Reuters
Tuesday, 5 Nov 2013 01:18am EST 

Reuters reported that GRUPA LOTOS SA said it paid Centrica Plc USD 176 million for a share in 14 extraction licenses in the North Sea off the coast of Norway.  Full Article

Centrica Plc's Direct Energy Completes Acquisition Of Hess' Energy Marketing Business
Friday, 1 Nov 2013 09:55am EDT 

Direct Energy Business, LLC, a North American subsidiary of Centrica plc announced that the completion of its acquisition of the New Jersey-based Energy Marketing business of Hess Corporation. The new organization, which also now combines Direct Energy's commercial and industrial retail business with the Company's wholesale supply business, will be led by Maura Clark, who assumes the role of president of Direct Energy Business.  Full Article

INPEX CORP Awarded Offshore Exploration License in the UK Continental Shelf with Centrica Plc's Subsidiary and Statoil ASA's Subsidiary
Thursday, 24 Oct 2013 03:30am EDT 

INPEX CORP announced that it has won the 27th Seaward Licensing Round in UK, and was granted an offshore Exploration License P2019 in the North Sea, jointly with Centrica Resources Limited (Centrica), a subsidiary of Centrica plc, and Statoil (U.K.) Limited (Statoil), a subsidiary of Statoil ASA, in addition to the earlier awarded two licenses in the Round. The license is operated by Centrica who have a 35% participating interest while INPEX holds a 30% participating interest and Statoil holds a 35% participating interest respectively in the same manner as the existing two Licenses.  Full Article

Centrica Plc Names Rick Haythornthwaite As Chairman-Reuters
Friday, 4 Oct 2013 12:51pm EDT 

Reuters reported that Centrica Plc named Rick Haythornthwaite as its new Chairman on October 04, 2013. Centrica said Haythornthwaite would be appointed Non-Executive Chairman on January 1, replacing Roger Carr who had already announced his plans to step down.  Full Article

Suncor Energy Inc Closes Sale Of Majority Of Conventional Natural Gas Business In Western Canada To Centrica plc's And Qatar Petroleum International Ltd' Partnership, CQ Energy Canada
Thursday, 26 Sep 2013 06:56pm EDT 

Suncor Energy Inc announced that it has closed the previously announced sale of the majority of its conventional natural gas business in Western Canada to CQ Energy Canada Partnership, a newly established partnership between Centrica plc and Qatar Petroleum International Ltd. The sale is consistent with Suncor's strategy to focus on a core portfolio of high return, oil producing assets and includes properties situated across multiple regions in Alberta, northeast British Columbia and southern Saskatchewan. Excluded are the majority of Suncor's unconventional Montney natural gas properties in the Fort St. John region of British Columbia and Suncor Energy 's Wilson Creek, Alberta unconventional oil assets. The $1 billion sale price is subject to closing adjustments typical of transactions of this nature and is based on an effective date of January 1, 2013. All necessary regulatory approvals were received including approval under the Investment Canada Act.  Full Article

Centrica Plc To Acquire AWHR America's Water Heater Rentals, L.L.C. For $30 Million
Thursday, 5 Sep 2013 07:00am EDT 

Centrica Plc's Direct Energy, announced that it has agreed to acquire AWHR America's Water Heater Rentals, L.L.C. (AWHR) from MWHR, a U.S. based investment entity, for $30 million in cash plus working capital.  Full Article

Centrica Plc Proposes Interim Dividend
Wednesday, 31 Jul 2013 02:00am EDT 

Centrica Plc announced that the Board is proposing an interim dividend of GBP0.0492 per share (2012: GBP0.0462 per share), to be paid on November 13, 2013 to shareholders on the register on September 27, 2013.  Full Article

Centrica Plc's Subsidiary Acquires New Jersey-Based Energy Marketing Business Of Hess Corporation
Tuesday, 30 Jul 2013 02:00am EDT 

Centrica Plc’s North American subsidiary, Direct Energy Business, LLC, has agreed to acquire the New Jersey-based Energy Marketing business of Hess Corporation, for $731 million (GBP478 million) in cash plus net working capital, estimated at approximately $300 million.  Full Article

UPDATE 1-UK utilities gain from Conservative election victory

LONDON, May 8 - British utilities Centrica and SSE were some of the biggest stock market winners after Britain's national election, as the Conservative victory meant they avoided the prospect of tougher regulation proposed by the main opposition Labour Party.

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