• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 day GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days The United States produced more crude oil than any nation, at any time.
  • 7 days e-truck insanity
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 6 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 6 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 7 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 7 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 10 days Bankruptcy in the Industry

UK’s Centrica Signs $8.5B Long-Term Deal To Import U.S. LNG  

Centrica, the owner of British Gas, has signed a heads of agreement with U.S. firm Delfin Midstream to import LNG starting in 2026 from a planned floating LNG export facility offshore Louisiana, in a 15-year-deal worth $8.5 billion (7 billion British pounds).

Delfin has thus secured another long-term customer, which is expected to facilitate a Final Investment Decision (FID) for Delfin Deepwater Port, the first floating LNG export facility in the United States, by the end of this year, the companies said in a joint statement on Tuesday.

“Market demand for long-term LNG continues to be strong and buying activity from Europe and various other geographies has accelerated over the past few months. As a modular project that can make FID in 3.5 MTPA increments, this agreement materially advances our first vessel’s path towards FID later this year,” Dudley Poston, chief executive officer of Delfin, said.

In recent months, LNG buyers in Europe and Asia have been increasingly returning to long-term purchase agreements in order to secure a long-term supply of non-Russian gas and to insulate themselves from spiking volatile spot prices.

For Centrica, another deal for natural gas imports fits its and the UK strategy to bolster domestic energy security with sources of reliable and stable future supply of gas.

“Additional US gas export capacity will help increase UK, European and global energy security, reflecting the increasing importance of LNG in the global gas supply chain,” said Chris O’Shea, Centrica Group Chief Executive.

In June, Centrica signed a deal with Norway’s major Equinor for the delivery of an additional 1 billion cubic meters (bcm) of gas supplies to the UK for each of the next three winters.

Centrica has also been awarded by UK authorities a gas storage license for the Rough site in the Southern North Sea—a site that was closed in 2017, but could reopen as early as this winter.

ADVERTISEMENT

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News