30 September 2020
Centrica signs long-term LNG supply deal with Shenergy
Centrica plc has agreed a binding 15-year Sales and Purchase Agreement (SPA) to supply 0.5 million tonnes per annum (MTPA) of Liquefied Natural Gas (LNG) to the Shenergy Group Company Limited (Shenergy). Deliveries are expected to commence in 2024.
The SPA follows a Heads of Agreement that was concluded in January 2020 and represents the first long term supply contract for Centrica in China, one of the fastest growing LNG markets in the world.
'We are delighted to conclude this agreement with Shenergy. The roots of our shared history date back over 150 years, to when British Gas helped install gas lighting in the streets of Shanghai. Today's deal is a new milestone for our companies and complements Centrica's existing portfolio of LNG positions and contracts.'
Chris O'Shea, Centrica's Group Chief Executive Officer
T: +44 (0)1784 843000
Centrica is a leading international energy services and solutions provider, founded on a 200-year heritage of serving people. We serve around 13 million customers across the UK, Ireland, North America and continental Europe through brands such as British Gas. We are focused on satisfying the changing needs of our customers, enabling them to transition to a lower carbon future. Our aim is to reduce emissions in line with the Paris climate goals by 2030 and develop a path to net zero by 2050.
Energy Marketing and Trading is the trading and optimisation arm of Centricaplc. We are a leading provider of energy management and optimisation services to businesses, in addition to managing commodity risk and providing wholesale market access for the Centrica Group. We have over 14GW of capacity under contract in Europe, more than half of which is for renewable assets. We also continue to expand our global LNG business, having built a full range of LNG trading, optimisation and operations capability.
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Centrica plc published this content on 30 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 September 2020 07:04:04 UTC