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    Reuters: UK Gas Import Dependence Grows with Centrica's Russia, Norway Deals

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Summary

Britain's Centrica has increased rather than decreased the UK's dependence on Russia gas (as well as Norwegian) with a Gazprom import deal

by: Erica Mills

Posted in:

Press Notes

Reuters: UK Gas Import Dependence Grows with Centrica's Russia, Norway Deals

Britain's largest energy supplier Centrica (CNA.L) has signed new gas contracts with two of the world's largest producers, Russia's Gazprom and Norway's Statoil, reflecting the UK's growing dependence on gas imports as its production declines.

The Gazprom deal give Britain a much higher exposure to Russian-sourced gas and comes despite European Union pressure to reduce the region's dependence on Russian gas due to frosty relations with President Vladimir Putin over the conflict in Ukraine.

Read the full article HERE.