Industry NewsThe UK is set to see even more imports of liquefied natural gas (LNG), with Centrica securing a 2 billion pound deal with Qatar to provide 2.4 million tonnes of the fuel. The LNG will be transported over a three-year period and provides the UK with more certainty over securing the fuel and improving security of supply.
The use of LNG is growing world-wide, with LNG imports increasingly being used to meet UK supply needs. However, the bulk of the supply has tended been locked into long-term supply arrangements, making it hard to secure „spot? cargoes. The UK is developing its own portfolio of these long-term agreements, although this is somewhat contrary to the desires of the European Union when it comes to access to fuel. The agreement will see the fuel delivered to the Isle of Grain LNG terminal in Kent.
Centrica Chief Executive, Sam Laidlaw, commented, "The UK is the largest gas consumer in Europe and one of the fastest growing markets for gas imports. LNG provides the UK with a bridge to major global gas reserves. This deal is is of particular importance and we hope that this will be the start of a longer term working relationship."