Gazprom Marketing & Trading 3 year gas supply deal announced

Centrica plc, the parent company of British Gas, has signed a supply contract for gas from Gazprom Marketing & Trading to deliver 2.4 BCM of natural gas.

Centrica plc, the parent company of British Gas, has signed a supply contract for gas from Gazprom Marketing & Trading to deliver 2.4 BCM (billion cubic meters) of natural gas.

The deal, which will be delivered over a three year period, starts in 2014 and will be delivered at NBP.

Cordi O'Hara, Centrica Energy, Origination Director said: "Centrica is at the forefront of helping to deliver UK energy security and this deal is a natural fit with one of the world’s largest gas producers and exporters.”

Notes

  1. Gazprom Marketing & Trading Limited is a UK-registered wholly-owned subsidiary of OAO Gazprom (“Gazprom”). The Company is headquartered in London and was established in 1999 to manage Gazprom's marketing and trading activities across Europe. The Company is responsible for the optimisation of Gazprom’s energy commodity assets and downstream expansion through its marketing and trading network.
  2. In November 2011, Centrica signed a gas supply contract with Statoil ASA to supply 50 BCM (19 billion therms) over a 10 year period, starting in 2015 which will provide enough gas to meet the needs of 3.5 million UK households.
  3. In February 2011, Centrica signed a three year gas supply contract with Qatargas to deliver a total of 9.9 BCM of liquefied natural gas (LNG) to the UK Isle of Grain facility. The deal provides enough gas to meet approximately 10 per cent of UK annual residential gas demand, enough to meet the needs of around 2.5 million households.