Britain's Centrica to exit Russia gas supply agreements

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A British Gas sign is seen outside its offices in Staines in southern England
A British Gas sign is seen outside its offices in Staines in southern England, July 31, 2014. REUTERS/Toby Melville/File Photo

LONDON, March 1 (Reuters) - Centrica (CNA.L), owner of Britain's largest energy suppler British Gas, said on Tuesday it would exit its gas supply agreements with Russian counterparts, principally Gazprom .

British energy companies, including BP and Shell (SHEL.L), have moved to exit Russian operations following Russia’s invasion of Ukraine. read more

Centrica has a supply agreement with Gazprom Marketing & Trading (the UK entity) through which gas can be sourced from the open market and this does not necessarily mean Centrica is directly supplied with gas from Russia.

“We intend to exit our gas supply agreements with Russian counterparts, principally Gazprom, as a matter of urgency,” Centrica Chief Executive Chris O’Shea said in an emailed statement.

"We are working through the details of how best to do this, additionally we will ensure we are compliant with all relevant sanctions," he said.

(This story corrected the name of Gazprom trading company to Gazprom Marketing & Trading)

Reporting by Susanna Twidale; Editing by Edmund Blair and Jane Merriman

Our Standards: The Thomson Reuters Trust Principles.

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