Norway’s Statoil has increased by nearly 50% the volume of gas it will deliver to UK player Centrica under an existing supply deal.
13 May 2015 12:59 GMT
Statoil will now supply 7.3 billion cubic metres of gas per annum to Centrica, up by 2.3 Bcm from the original figure of 5 Bcm agreed under the 10-year supply pact signed by the pair in 2011, with deliveries due to start in October.
The increased supply volumes equate to about 10% of the UK’s total gas demand of 70 Bcm per annum.
The gas will be supplied through existing pipeline infrastructure from the Norwegian continental shelf, Statoil said in a statement.
“The new agreement was made at market terms and conditions,” Statoil said.