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FINANCIAL NEWS
Qatargas, Centrica sign LNG deal
24 Apr 2011
(MENAFN) Qatargas unveiled a contract inked with the UK-based Centrica for supplying the latter with 2.4 million tons of liquefied natural gas (LNG) over the course of three years, reported Arab News.
The Qatar-based company said that it would supply the LNG from the Qatargas 4 project to the Isle of Grain Terminal in England. The company added that this deal marks Centrica’s first long-term one for purchasing LNG.
Qatargas added that with the new contract, the company gained a great boost in the European market.
It is worth noting that the UK had recently been increasing its imports of LNG, which the country transfers into gas and pumps through the Kingdom’s network.
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