Statoil extends gas supply contracts

Statoil has increased the volume of gas it will deliver to Centrica in the UK under an existing supply deal, by 50%. The Norwegian company will now supply 7.3bn cm/y of gas to Centrica. Deliveries are due to start in October. The increased supply volumes equate to about 10% of the UK’s total gas demand of 70bn cm/y.

In a separate agreement, Centrica has also extended its gas supply contract with Gazprom Marketing & Trading Limited (GM&T), increasing the volume of gas it is buying to 4.16bn cm/y and taking the total volume to be delivered to the UK to 29.1bn cm.