Centrica and Equinor agree major new deal to bolster UK energy security

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Centrica and Equinor have today announced a £20 billion plus agreement to deliver gas to the UK. The new deal will see Centrica take delivery of five billion cubic meters (bcm) of gas per year to 2035.

The expansive ten-year deal continues a long-term relationship with Equinor that dates back to 2005 bringing gas from Norway to the UK.

In 2024, the UK imported almost two-thirds (66.2%) of its gas demand, with 50.2% of the total imports coming from Norway^1. This is an increase from the UK importing around a third of its gas requirements from Norway in 2022² and underlines the strategic importance of the Norwegian relationship to UK energy and price security.

The contract also allows for natural gas sales to be replaced with hydrogen in the future, providing further support to the UK’s hydrogen economy. 

Chris O'Shea, Group Chief Executive of Centrica, commented: "Equinor is a valued partner  and this landmark agreement underscores the vital role that natural gas plays as a transition fuel as we navigate towards a low carbon energy future. The enduring partnership between Centrica and Equinor exemplifies the strong and strategic relationship between the UK and Norway and I’m immensely proud that we’ve agreed this deal.

“Over the last few years, we’ve seen first-hand how important energy security is. Today’s deal not only ensures the UK’s energy security has improved but also paves the way for a burgeoning hydrogen market. The deal represents a significant investment in the UK’s future, showing that Centrica will make bold investments that drive forward the energy transition while delivering value for our shareholders. We will continue to focus on further improving energy security by working with the UK Government to ensure the right levels of gas storage are in place to complement this landmark gas importation agreement."

Equinor’s president and CEO Anders Opedal commented: “For nearly 50 years, we have supported the UK’s energy security with reliable gas supplies. In addition, we have advanced offshore wind and pioneered decarbonisation solutions. We are pleased to strengthen the energy partnership further through a new gas sales agreement with our longstanding customer and partner Centrica.”