UK-based energy firm Centrica said on Wednesday it signed its first long-term LNG supply deal in China, the world’s second-largest buyer of the fuel.
Under the 15-year deal, the firm will supply 0.5 million tonnes per annum of LNG to state-owned Shenergy Group.
The deal follows a heads of agreement signed by the duo in January 2020.
Furthermore, Centrica expects to start shipping LNG to China in 2024.
The firm did not provide any additional information.
“We are delighted to conclude this agreement with Shenergy. The roots of our shared history date back over 150 years, to when British Gas helped install gas lighting in the streets of Shanghai,” Chris O’Shea, Centrica’s CEO said.