Centrica Eyes 8.8 BCM in Morecambe Bay

UK-focused Centrica announced that work to tap into new reserves in the North Morecambe field off the coasts of North England will start this month.

‘A new project to boost gas production from Morecambe Bay is set to take Centrica Energy’s current investment in the region past the £100 million mark and unlock new gas reserves’ the company wrote on Friday. 

Centrica expects to unlock up to 8.8 billion cubic feet of gas.

Earlier this week, Centrica reported that its subsidiary British Gas would soon reduce gas prices by 5% for its British costumers.

Earlier this year, the company Centrica said on Thursday it intends to refocus investments in UK gas-fired power generation on flexible smaller plant.