Centrica plc has announced that it has entered into a new five-year supply agreement with Qatargas for the purchase of up to 2 million tpy of LNG.
The new LNG contract will start in January 2019, following the expiry of Centrica’s existing contract with Qatargas at the end of December 2018.
Centrica Group Chief Executive, Iain Conn, said: “I am very pleased to extend our long-standing supply relationship with the world’s biggest LNG producer and our partner, Qatargas […] 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.”
Saad Sherida Al-Kaabi, Qatar Petroleum President and Chief Executive Officer (CEO), and Chairman of Qatargas Board of Directors, added: “We are delighted to extend our strong relationship with Centrica and the United Kingdom. This agreement underscores Qatargas’ reputation as a safe and reliable supplier of LNG. Furthermore, this agreement has the potential to positively contribute to the United Kingdom’s energy security for years to come.”
Centrica’s entered its first LNG supply agreement with Qatargas back in June 2011, for a period of three years. It then entered into a further four-and-a-half-year contract, which commenced upon expiry of the previous contract in June 2014 and runs until December 2018.
Khalid Bin Khalifa Al-Thani, CEO, Qatargas, said: “Qatargas is pleased to lengthen our existing partnership with Centrica – a partnership which dates back to 2011. This new agreement reinforces Qatargas’ commitment to building a strong relationship with customers, and our position as the leading supplier of LNG to the United Kingdom.”
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/05092016/centrica-signs-new-lng-supply-deal-with-qatargas-3003/