Friday, June 24, 2022

Energy Security: Equinor Inks Deal for Winter Gas Supply with UK’s Centrica

June 16, 2022

Group photo from the signing of the agreement: Equinor and the UK’s Centrica have signed an agreement which will provide additional supplies of around 1 billion cubic meter (bcm) of gas for each of the coming three heating seasons. From left, Centrica Group CEO Chris O’Shea, Secretary of State for Business, Energy and Industrial Strategy (BEIS) Kwasi Kwarteng and Equinor’s SVP Gas & Power Helge Haugane. Image courtesy Equinor

Equinor and Centrica announced an agreement to deliver additional gas supplies to the UK, effectively providing energy security for the UK over the coming three winters. The new supply agreement adds around 1 billion cubic meters (bcm) per year to Equinor’s existing, bilateral contract with Centrica and brings the total volume under the contract above 10 bcm per year.

Britain currently imports around a third of its gas requirements from Norway

“In a period with a challenging geopolitical and macroeconomic environment with strong demand for natural gas, we at Equinor are doing what we can to export as much gas as possible to the market. Equinor is proud to be a long-term, reliable energy partner with both Centrica and the UK, and I am very happy that through this agreement we are able to contribute to the UK securing further energy supply for the coming winters," said Helge Haugane, Equinor’s senior vice president Gas & Power.

Equinor every year typically supplies 20-22 bcm of natural gas to the UK which covers over 25 % of UK gas demand.

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