Integrated energy company Centrica PLC (CNA.LN), said Wednesday it has entered into a four-and-a-half-year 4.4 billion pound ($7.04 billion) contract with Qatar to secure further liquefied natural gas supplies for the U.K. up to 2018.
Integrated energy company Centrica PLC (CNA.LN), said Wednesday it has
entered into a four-and-a-half-year 4.4 billion pound ($7.04 billion) contract
with
Qatar
to
secure further liquefied natural gas supplies for the
U.K.
up to
2018.
The company said the LNG supply agreement is with Qatargas for the purchase of
up to 3 million metric tons per annum of LNG.
Centrica, the parent company of British Gas added that the contract builds on
the existing agreement with Qatargas, signed in February 2011, and could
provide gas to meet 13% of
U.K.
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, and the new contract will begin upon expiry of the existing contract.
In September Centrica and Qatar Petroleum International completed a 1 billion
Canadian dollars-agreement with Suncor Energy to acquire a package of producing
oil and natural gas assets in the Western Canadian sedimentary basin.
Centrica shares in
London
at
1052 GMT traded down 3 pence, or 0.9%, at 355 pence, valuing the company at
GBP18.12 billion.
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