BRITISH Gas owner Centrica has signed a mega US deal to ramp up its supplies of liquefied natural gas (LNG) processed in a floating export facility 40 miles off the coast of Louisiana.

Centrica yesterday unveiled a £7bn agreement with Delfin Midstream to buy a million tonnes of LNG on an annual basis, over a 15-year window.

This will help shore up the UK's supply security during the transition to net zero and global volatility with stable flows of gas.

The agreement will see the British Gas owner purchase supplies from extracted and processed from the Delfin Deepwater Port.

Delfin is planning to develop the first floating LNG export facility in the US by the end of this year, which will operate within the port and convert natural gas.

The deal with Centrica provides Delfin with another key foundation customer for its final investment decision, with operations expected to commence in 2026.

(c) 2022 City A.M., source Newspaper