British Centrica agrees to buy US LNG for $8.5 billion

Centrica, the UK’s largest supplier of gas and electricity, August 9 signed an agreement for £7bn ($8.5bn) with US LNG supplier Delfin Midstream. In accordance with the agreement, Centrica will buy LNG from Delfin Midstream from 2026. The companies will supply the UK with 1 million tons of LNG per year by sea from Delfin storage facilities in Louisiana.

Companies and governments across Europe are looking for new sources of energy to reduce dependence on Russian gas. So, in the spring Germany announced construction two terminals for receiving liquefied natural gas to replace energy carriers from Russia, and also agreed to increase gas supplies from Norway.

“Natural gas is now seen as an important transition point on the path to zero emissions, just as geopolitical uncertainty is affecting the global gas market,” Centrica CEO Chris O’Shea said of the agreement. “Today’s deal between Centrica and Delfin is good news for the UK as it will help ensure diversification of supply from reliable sources,” UK Business and Energy Minister Kwazi Kwarteng commented on the deal.

How the EU is trying to reduce gas consumption, read the material “Kommersant” “Burning minimum”.

Yana Rozhdestvenskaya