Centrica Energy and Devon Energy Corporation announce the signing of a sales and purchase agreement whereby Devon will supply 50,000 MMBtu per day of natural gas, beginning in 2028, for a full decade to Centrica.
The natural gas supply contract
This agreement seeks to protect the liquefied natural gas portfolio in the face of market volatility, guaranteeing stability in supply and a more efficient commercial model for both parties. The British company remains committed to long-term contracts as a strategic tool to manage risks and maintain energy security.
Centrica Energy’s U.S. subsidiary, with operations recently launched from its new office in New York, will be responsible for managing and optimizing the physical volumes of this contract. This territorial expansion marks Centrica’s move to strengthen its operational presence in the Americas and enhance its logistical and commercial capabilities.
Moreover, the partnership with Devon Energy represents a deepening of U.S.-U.K. energy ties, at a time when natural gas natural gas is still considered essential to the global energy transition.
This announcement coincides with Centrica’ s recent acquisition, in consortium with Energy Capital Partners, of the Isle of Grain LNG terminal for £1.5 billion. This infrastructure is important to secure import and storage capacity to support deals such as the one signed with Devon Energy.
Source and photo: Centrica
