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Centrica signs LNG carrier charter deal

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LNG Industry,

Centrica plc has announced that it has signed a deal with GasLog Ltd to charter a new-build LNG carrier for seven years, starting in late 2019.

Delivery of the LNG carrier, which has a capacity of 180 000 m3, is expected to coincide with first commercial delivery of the Centrica supply contract to purchase an annual volume of 89 billion ft3 of LNG for export from Cheniere Energy’s Sabine Pass liquefaction plant in Louisiana, US.

Jonathan Westby, Co-Managing Director Energy Marketing and Trading and Global Head of LNG, said: “I am delighted that we are able to conclude this long-term charter agreement with GasLog and we look forward to building a successful partnership with them as Centrica continues to develop its presence in the global LNG market.”

The contract, which is on a ‘Free on Board’ (FOB) basis, is for an initial 20-year period with the option for a 10-year extension.

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