Centrica reaches supply agreement with Repsol to buy 1 Mt of LNG between 2025-2027

Repsol novedad

Link Securities| Repsol (REP) and Centrica have signed an agreement that will increase the UK’s energy security in the coming years, according to elEconomista.

The agreement will see the British company purchase 1 million tonnes of liquefied natural gas (LNG) between 2025 and 2027. Under the agreement between the two companies, all of these cargoes are expected to be delivered to the Grain LNG import terminal in Kent.

The deal is a further step by Centrica to strengthen the UK’s energy security, adding to the 15-year, $8 billion deal signed with Delfin Midstream in July 2023, another three-year supply contract with Equinor that will heat 4.5 million UK homes from this 2024 and the reopening and expansion of the Rough gas storage facilities carried out in October 2022 and June 2023 respectively.

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