Statoil and Centrica extend gas sales agreement

Statoil and Centrica have come to an agreement to increase the volume of gas supplied to Centrica under an existing supply agreement.

Statoil signed a 10-year contract with Centrica in 2011 for the supply of 5 billion cubic metres of gas per annum to be delivered to the UK from October 2015.

The total volume to be supplied over the 10-year period will now be 73 bcm, as the new agreement will increase the volume of gas by a further 2.3 bcm per annum.

“We are very happy to have made this agreement with Centrica. The agreement confirms Statoil’s position as a reliable and competitive supplier of gas to the UK, which is a very important market to Statoil,” says Ann-Elisabeth Serck-Hanssen, acting Senior Vice President of marketing and trading in Statoil.

Adapted from press release by Joseph Green

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/13052015/statoil-centrica-extend-gas-sales-agreement-948/