Centrica signs LNG deal with Repsol

UK's Centrica Energy has signed a deal with Spain's Repsol to purchase 1mn tonnes/year of LNG between 2025 and 2027, it said on February 7.

The LNG is expected to be delivered to the Grain LNG import terminal in Kent, UK. This deal is part of Centrica Energy's efforts to ensure a stable and resilient energy supply for the UK, the company said.

The agreement with Repsol follows other strategic moves by Centrica Energy, including a 15-year, $8bn deal with Delfin Midstream in July 2023, a three-year supply agreement with Equinor to heat 4.5mn UK homes until 2024, and the reopening and expansion of the Rough gas storage facility in October 2022 and June 2023, respectively.

“Alongside the other steps we’ve taken to make the UK more resilient – through deals with Delfin Midstream and Equinor – our actions demonstrate our commitment to the UK consumer,” Chris O'Shea, Centrica CEO, said.

Centrica supplies energy and services to over 10mn residential and business customers, in the UK and Ireland, through brands such as British Gas, Bord Gais Energy and Centrica Business Solutions.