UK's Centrica signs natural gas supply deal with Canada's Peyto
Britain's Centrica said on Wednesday it had signed a 10-year gas supply deal with Canada's Peyto Exploration and Development for 50,000 million British thermal units of natural gas per day starting in 2029.
The volumes equate to about five liquefied natural gas cargoes per year. Pricing will be linked to the European benchmark Title Transfer Facility, Centrica said.
"By linking feed gas pricing to European benchmarks and maintaining flexibility across global markets, the deal enhances Centrica Energy's ability to manage market exposure and optimize its LNG portfolio," the company added.
Centrica signed a similar deal with Canadian exploration firm Whitecap Resources in February.
For Peyto, the agreement provided long-term exposure to international LNG-linked pricing, supporting its strategy to diversify beyond North American benchmarks, the companies said.
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