Centrica Energy and Whitecap enter long-term natural gas supply agreement
Centrica Energy has announced the signing of a long-term natural gas purchase agreement with Whitecap Resources Inc., a leading Canadian producer dedicated to the responsible development of oil and gas resources across the Western Canadian Sedimentary Basin.
Starting in April 2028, Whitecap will deliver 50 000 million Btu/d of natural gas to Centrica Energy for a period of 10 years – equivalent to roughly five LNG cargoes each year. The supply will be priced against the Title Transfer Facility (TTF), the benchmark for European gas markets.
This agreement advances Centrica’s strategy of managing market price exposure across its LNG portfolio by linking feed gas costs to European price signals. For Whitecap, the agreement provides access to international LNG-linked pricing, supporting the company’s natural gas price diversification strategy.
“Entering into this innovative agreement with Whitecap underlines our focus on building a balanced LNG portfolio through strategic partnerships across the globe allowing us to deliver reliable energy solutions to global markets” said Chris O’Shea, Group Chief Executive at Centrica.
“This long-term agreement underscores our commitment to being a reliable source of energy. As Canada's role in the international natural gas markets continues to grow, Whitecap is looking forward to this partnership and the benefits that it will bring to each company and our respective stakeholders” added Grant Fagerheim, President and CEO at Whitecap Resources Inc.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/25022026/centrica-energy-and-whitecap-enter-long-term-natural-gas-supply-agreement/
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