Centrica renews LNG deal with Qatar firm

Centrica has signed a new LNG deal with a Qatari gas firm. The British utility has entered a new five-year supply agreement with Qatargas which includes the purchase of up to […]

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By Jacqueline Echevarria

Centrica has signed a new LNG deal with a Qatari gas firm.

The British utility has entered a new five-year supply agreement with Qatargas which includes the purchase of up to two million tonnes of LNG per year.

It will be delivered to the Isle of Grain terminal.

The new deal, which will start in January 2019, follows the end of an existing contract between the two companies by the end of December 2018.

The two firms have been working together since 2011.

Centrica claims due to the decline in North Sea’s production and the recent growth in global LNG supply, the UK “is increasingly becoming an attractive destination” for LNG.

Iain Conn, Centrica Group Chief Executive said: “Centrica continues to develop its presence in the global market. The scale of our gas demand and our strong energy marketing and trading capabilities mean we are ideally placed to work with LNG producers across the world, providing flexibility and a route to market at a time when secure market access is increasingly important.”