What we do
In 2017 Centrica launched a new company as a joint venture with German energy and infrastructure firm Stadtwerke München (SWM).
Spirit Energy, an exploration and production (E&P) company, is the result of a combination of Centrica's E&P business and Bayerngas Norge AS, which was formerly majority-owned by SWM.
By combining the cash-generating production assets of Centrica’s portfolio with Bayerngas Norge’s developments, the joint venture creates a business set up to become a strong and sustainable European E&P company.
The creation of Spirit Energy completed the first phase of Centrica’s planned portfolio transformation, enabling us to pursue delivery of longer-term returns and growth with a greater focus on our customer-facing businesses.
Centrica plc owns 69% of Spirit Energy, with Bayerngas Norge’s former shareholders, led by SWM and Bayerngas GmbH, owning 31%.