Statoil, Centrica extend gas supply deal

Statoil, Centrica extend gas supply deal

Statoil said it has made an agreement with Centrica to increase the volume of gas it supplies to Centrica under an existing supply agreement.

In 2011, Statoil signed a 10-year agreement with Centrica for the supply of 5 billion cubic metres of gas per annum to be delivered to the UK from October 2015, the company said in a statement.

The new agreement will increase the volume of gas by a further 2.3 bcm per annum, taking the total volume to be delivered over the 10 years period to 73 bcm. The agreement has been made at market terms and conditions.

Britain needs around 70 bcm of natural gas each year to heat homes and businesses and to generate electricity and the half of this demand is covered by imports.

Through its long-term supply agreement with Statoil, Centrica will deliver sufficient gas to meet the needs of nearly 6 million British homes.

 

Image: Statoil

Share this article

Follow LNG World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

2nd Central and Eastern European Small Scale LNG Forum

The Forum is for LNG industry leaders, who want to keep up to date with Small-Scale LNG latest trends and many other topics!

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Houston / Feb 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >

3rd CWC Japan LNG & Gas Summit

As the only commercially focused forum for the Japanese LNG industry

read more >