Centrica signs deal to import £7bn of LNG from US
By Michele Maatouk
Date: Tuesday 09 Aug 2022
(Sharecast News) - British Gas owner Centrica said on Tuesday that it has signed a £7bn agreement with Delfin Midstream in the US for the purchase of 1 million tonnes per annum of liquified natural gas (LNG).
The 15-year agreement will see Centrica buy the LNG from the Delfin Deepwater Port, located 40 nautical miles off the coast of Louisiana, with operations expected to being in 2026.
Centrica chief executive Chris O'Shea said: "Natural gas has now been recognised as an essential transition fuel on the path to net zero just at the point geopolitical uncertainty is impacting the global gas market.
"Additional US gas export capacity will help increase UK, European and global energy security, reflecting the increasing importance of LNG in the global gas supply chain. I'm delighted to sign this Heads of Agreement with Delfin as we continue to deliver our new strategy, growing Centrica's LNG portfolio and ensuring that we increase our access to a diversified range of reliable gas supplies for our customers."
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