Centrica and Equinor ink £20+ billion LNG supply contract

The UK energy services and solutions company Centrica and Norwegian oil and gas major Equinor have announced a £20 billion plus agreement to deliver gas to the UK.

The new gas deal will see Centrica take delivery of five billion cubic meters (bcm) of gas per year to 2035.

As it is reported, the expansive ten-year deal continues a long-term relationship between Centrica and Equinor that dates back to 2005 bringing gas from Norway to the UK.

Centrica states that the contract also allows for natural gas sales to be replaced with hydrogen in the future, providing further support to the UK’s hydrogen economy.

“Over the last few years, we’ve seen first-hand how important energy security is. Today’s deal not only ensures the UK’s energy security has improved but also paves the way for a burgeoning hydrogen market,” said Chris O’Shea, group chief executive of Centrica.

“For nearly 50 years, we have supported the UK’s energy security with reliable gas supplies. In addition, we have advanced offshore wind and pioneered decarbonisation solutions,” added from his side Equinor’s president and CEO Anders Opedal.

Centrica is founded on a 200-year heritage