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 >>  5/21/2018 - An Iranian gas official said the country was ready to start supplying natural gas to the housing, commercial and industrial sectors of neighboring Ira...
Russia >>  5/15/2018 - A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Temenuzhka Petkova, Minister of Energy of the Republic of B...

Oman >>  5/13/2018 - Total has signed a Memorandum of Understanding (MoU) with the Government of Oman to develop natural gas resources in Oman. This MoU covers both upstre...
Chile >>  5/7/2018 - Marubeni Corporation (Marubeni) announces that Marubeni, together with an infrastructure fund established by Toesca Administradora General de Fondos (...

Portugal >>  5/2/2018 - Galp informs that it has signed a 20-year LNG Sales and Purchase Agreement (SPA) with Venture Global LNG for 1 MTPA (million tonnes per annum) from th...
Australia >>  4/26/2018 - Woodside Energy Ltd (Woodside) has entered into a non-binding memorandum of understanding (MOU) with Perdaman Chemicals and Fertilisers Pty Ltd (Perd...

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.