22 September, Sunday, 2024
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HomeSourcesthetimes.co.ukCentrica agrees $8bn deal to buy gas from US

Centrica agrees $8bn deal to buy gas from US

Centrica has finalised an $8 billion agreement to purchase liquefied natural gas (LNG) from a new floating production facility in the Gulf of Mexico.

The British Gas owner will buy about 14 LNG cargoes per year from Delfin Midstream’s new deepwater port, 40 nautical miles off the coast of Louisiana.

The million tonnes of LNG per year would be enough to heat 5 per cent of UK homes and Centrica said it intended to bring the gas to Britain, although it has the rights to sell it anywhere in the world.

The sale and purchase agreement with Delfin follows a heads of agreement signed in August 2022, at which stage the much-delayed project was expected to take a final investment decision later that year and

© Times Media Limited 2023.

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