Repsol, Centrica seal LNG supply deal

UK-based energy firm Centrica has signed a deal with Spain’s Repsol to buy liquefied natural gas (LNG) from the latter.

According to a statement, the deal will see Centrica buy 1 million tonnes of LNG shipments between 2025 and 2027.

All of these cargoes are expected to be delivered to National Grid’s Grain LNG import terminal in Kent.

Centrica did not provide further information regarding the deal.

The firm has capacity rights at UK’s Grain LNG terminal that recently announced new deals with US LNG exporter Venture Global LNG and Algeria’s Sonatrach.

Centrica said the new deal marks an additional move by the firm to build “further resilience in the UK’s energy security”.

It follows a 15-year, $8 billion LNG deal with Delfin Midstream, the US developer of a floating LNG export project in the Gulf of Mexico, in July 2023.

Also, the deal follows a three-year supply agreement with Norway’s Equinor that will heat UK homes through to 2024 and the reopening and expansion of the Rough gas storage facility in October 2022 and June 2023 respectively.

According to Centrica, Rough now provides half of the UK’s total gas storage capacity with the potential to store over 50 billion cubic feet of gas, enough to heat almost 10 percent of UK homes throughout winter.

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