Centrica sets sail with landmark US LNG cargo destined for Europe

Centrica sets sail with landmark US LNG cargo destined for Europe

Centrica plc has loaded its first liquified natural gas (LNG) cargo from the fifth LNG train at the Sabine Pass liquefaction plant in Louisiana under the agreement signed in 2013 with Cheniere Energy Partners, L.P. The gas was loaded onto the GasLog Ltd chartered Skagen vessel over the weekend and will be transiting the Atlantic to land in Europe in early October.

Commenting on the first cargo, Jonathan Westby, Co-Managing Director of Centrica Energy Marketing & Trading and Global Head of LNG, said:

“This cargo represents a significant milestone in Centrica’s involvement with LNG, which goes back sixty years to the world’s first seaborne cargo of LNG that demonstrated how large quantities of gas could be transported safely across the oceans.

“Since that pioneering journey, also originating from Louisiana, we have established our capabilities to become a global LNG business trading, optimising and operating vessels that now carry over 30 times more gas and take half the time to transit the Atlantic to Europe.”

Under the terms of the agreement, Centrica purchases LNG for an initial 20-year period, with the option for a 10-year extension. The agreement is on a ‘Free on Board’ (FOB) basis, giving it destination rights for the cargoes. This amounts to approximately 1.75 million metric tonnes per annum (mmtpa), equivalent to the annual gas demand of over 2 million UK homes.

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 About Centrica

  • Centrica is a leading international energy services and solutions provider, founded on a 200-year heritage of serving people. Through our two customer-facing divisions, Centrica Consumer and Centrica Business, we supply energy, services and solutions to over 26 million customer accounts. We serve customers across the UK, Ireland, North America and Continental Europe through strong brands such as British Gas, supported by around 13,000 highly trained engineers and technicians. We are focused on satisfying the changing needs of our customers, enabling them to transition to a lower carbon future. Our aim is to reduce emissions in line with the Paris climate goals by 2030 and develop a path to net zero by 2050.
  • Energy Marketing and Trading is the trading and optimisation arm of Centrica plc. We are a leading provider of energy management and optimisation services to businesses, in addition to managing commodity risk and providing wholesale market access for the Centrica Group. We have over 14GW of capacity under contract in Europe, more than half of which is for renewable assets. We also continue to expand our global LNG business, having built a full range of LNG trading, optimisation and operations capability.