LNG News
Centrica Secures 15-Year LNG Supply Deal
Centrica, in partnership with Delfin Midstream Inc., has announced a significant long-term agreement to purchase 1.0 million tonnes per annum of Liquefied Natural Gas (LNG) for a period of 15 years.
As part of the agreement, Centrica will receive approximately 14 LNG shipments per year, providing enough energy to heat 5% of homes in the UK throughout the contract's duration.
Valued at $8 billion (£6.2bn), this deal represents Centrica's commitment to enhancing the energy security of the UK. It follows a three-year supply agreement with Equinor and the reopening of the Rough gas storage facility, which now accounts for half of the nation's total gas storage capacity.
Chris O'Shea, CEO of Centrica Group, stated, "In addition to bolstering trade links between the UK and US, this agreement, along with the reopening of Rough and our significant deal with Equinor, demonstrates Centrica's substantial investments in future-proofing the UK's energy supply and addressing one of the root causes of the energy crisis."