Gulf Oil and Gas accountACCOUNT

Centrica Signs A £4.4bn Gas Deal with Qatar

Source: www.gulfoilandgas.com 11/6/2013, Location: Middle East

Share |
Centrica plc, the parent company of British Gas, 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 £4.4billion deal builds on Centrica’s existing agreement with Qatargas, signed in February 2011, and could provide gas to meet approximately 13% per cent 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.

Centrica Chief Executive, Sam Laidlaw said:

"We are delighted that we continue to deepen our relationship with Qatargas and continue to build our LNG business by integrating our positions along the gas value chain. It is vital that the UK has a diverse range of sources of supply to meet its energy requirements. In a competitive international market, contracts like this underpin the UK's access to global LNG supplies for the benefit of customers."

Energy Minister, Michael Fallon, who was this week in Qatar, welcomed the news saying:

"Long term deals of this kind with reliable suppliers like Qatar are vital for our future energy security."

Natural Gas News in Qatar >>

Iran >>  2/14/2018 - Iran is ready to start gas flow to its neighbors and boost exports to current customers, a senior Iranian gas official said. ...
United States >>  2/12/2018 - Honeywell (HON) announced that its UOP Russell business will provide a fractionation plant capable of producing 60,000 barrels per day of natural gas ...

United Arab Emirates >>  2/6/2018 - The Abu Dhabi National Oil Company (ADNOC) signed a 15-years gas sales agreement with the Dubai Supply Authority (DUSUP) for the supply of Natural Gas...
United States >>  1/22/2018 - The 27th World Gas Conference (WGC 2018) takes place in Washington DC from June 25-29, 2018 and is the first time in WGC’s 87 year history that it wil...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Qatar Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 |

More News

 

Oil & Gas Companies in Qatar >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.