13th May 2015 11:20
LONDON (Alliance News) - FTSE 100-listed energy company Centrica PLC on Wednesday struck a deal to increase the volume of gas it buys from Norway's Statoil ASA and said it has extended an existing gas supply contract with the UK arm of Russia's OAO Gazprom.
Centrica signed a ten-year deal with Statoil for the supply of 5 billion cubic metres of gas per year to be delivered from October 2015. The new deal increases the volume by another 2.3 billion cubic metres a year, taking the total volume to 7.3 billion cubic feet over the ten-year agreement.
In a separate deal, Centrica has extended its gas supply deal with Gazprom Marketing & Trading Ltd, a UK-registered subsidiary of Gazprom, to increase the volume of gas it will buy under an agreement signed in 2012. Under the new deal, the average volume of gas Centrica will buy increases to 4.16 billion cubic metres per year, taking the total volume to be delivered under the contract to 29.1 billion cubic metres.
Shares in Centrica were down 1.7% to 273.50 pence Wednesday, one of the worst performers in the FTSE 100.
By Sam Unsted; [email protected]; @SamUAtAlliance
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