Qatar signs £2 billion with UK company

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Lng_adriaticCentrica and Qatar signed a landmark deal that has the gulf nation delivering £2bn worth of LNG (liquefied natural gas) to the UK Company for the next three years. The deal is worth 10% of the UK’s gas market which is enough to heat 2.5 million homes.

The managing director of Centrica Energy, Mr. Mark Hanafin, stated that he hopes this long-term deal with Qatar will be renewed in 2014. Assuming the relationship works well, and looking at the dwindling supplies of the North Sea, he may be interested in signing a 10-year deal next time to secure UK energy needs and continue the supply to his customers.

Mr. Hanafin denied suggestions that confidence in the politically tumultuous Middle East region could expose the UK’s energy supplies to greater threat.  Instead he said, ‘This deal is not a risk at all, it’s a deal signed between Europe’s largest market and the largest gas exporter’.

While British Gas’ retail division hopes to display booming profits this week according to their annual report, householders are experiencing rising costs.

 

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Reading Time: 1 minute

Centrica and Qatar signed a landmark deal that has the gulf nation delivering £2bn worth of LNG (liquefied natural gas) to the UK Company for the next three years. The deal is worth 10% of the UK’s gas market which is enough to heat 2.5 million homes.

Reading Time: 1 minute

Lng_adriaticCentrica and Qatar signed a landmark deal that has the gulf nation delivering £2bn worth of LNG (liquefied natural gas) to the UK Company for the next three years. The deal is worth 10% of the UK’s gas market which is enough to heat 2.5 million homes.

The managing director of Centrica Energy, Mr. Mark Hanafin, stated that he hopes this long-term deal with Qatar will be renewed in 2014. Assuming the relationship works well, and looking at the dwindling supplies of the North Sea, he may be interested in signing a 10-year deal next time to secure UK energy needs and continue the supply to his customers.

Mr. Hanafin denied suggestions that confidence in the politically tumultuous Middle East region could expose the UK’s energy supplies to greater threat.  Instead he said, ‘This deal is not a risk at all, it’s a deal signed between Europe’s largest market and the largest gas exporter’.

While British Gas’ retail division hopes to display booming profits this week according to their annual report, householders are experiencing rising costs.

 

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