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