Centrica has entered into a new five-year supply agreement with Qatargas for the purchase of up to 2 million tonnes per annum of liquefied natural gas.
The new LNG contract will start in January 2019, following expiry of Centrica's existing contract with Qatargas at the end of December 2018. With the decline in North Sea production and the recent growth in global LNG supply, the UK is increasingly becoming an attractive destination for LNG.
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." At 9:12am: (LON:CNA) Centrica PLC share price was +1.1p at 237p