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UNITED KINGDOM : British Gas inks Ł13 billion supply deal
Publish Date : 24-Nov-2011
The owner of British Gas, Centrica has inked a supply deal that will produce enough gas to meet around 5% of the UK\'s annual need. The supply of 50 billion cubic metres of gas to the UK from 2015 covered in the 10-year, Ł13 billion agreement with Norway\'s Statoil.
According to Centrica, the deal marked the significance of the UK\'s relationship with Norway for the country\'s energy security. The pact will boost Centrica\'s production by around 25% and means it will have operating facilities in Norway for the first time.
According to the Prime Minister David Cameron, the announcement underlined the strength and depth of the ties between the UK and Norway. “Gas plays a central role in powering our economy, and will continue to do so for decades to come. Today\'s agreement will help to ensure the continued security and competitiveness of gas supplies to Britain, from a trusted and reliable neighbor,” he said.
