Centrica and Equinor have signed a natural gas supply contract that secures the delivery of 55 TWh per year (about 5 bcm) for a decade, starting in October 2025.
The deal, valued at approximately £20 billion at current market prices, reflects the strong bilateral relationship between Norway and the UK, where Equinor already accounts for almost two-thirds of UK imported gas. This annual volume will cover around 10% of the country’s total gas demand.
Natural gas supply in support of decarbonization
[post_relacionado]From Equinor, its CEO Anders Opedal reaffirmed the strategic role of natural gas as a back-up for renewable generation, highlighting the flexibility of the resource to accompany the transition to clean energy. In line with this vision, Alex Grant, director of Equinor in the United Kingdom, stressed that security and decarbonization must go hand in hand.
Equinor and its partners have for nearly half a century developed the Norwegian continental Norwegian continental shelf into a reliable source of energy in Europe. The new contract strengthens the collaboration with Centrica, a British company that serves millions of homes and businesses through brands such as British Gas.
Complementary investments in clean energy
In addition to this supply, Equinor has three active offshore wind farms in operation in the United Kingdom and is developing Dogger Bankwhich will be the largest offshore wind farm in the world. It is also leading pioneering CO2 capture and storage projects.
Chris O’Shea, CEO of Centrica, noted that the agreement drives a low-carbon future and strengthens and strengthens the UK’s energy system. He reaffirmed the company’s commitment to the energy transition, noting also the need to strengthen the UK’s gas storage reserves to secure supply in the long term.
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Source and photo: Equinor