Centrica reached an agreement with Canadian Superior Energy Inc. under which Centrica could acquire a 45% interest in gas development Block 5(c), located off the south east coast of Trinidad, for $142.5m. The agreement is subject to pre-emption rights from the existing field partners and subject to approvals from the Trinidad Government and Canadian courts. The block is operated by BG Group, which holds a 30% stake. To date, successful exploratory drilling of Block 5(c) has identified significant gas reserves: the recoverable reserves corresponding to the 45% equity stake are estimated at 18.4 bcm, equivalent to around half Centrica's current UK gas reserves. The field is located near existing gas pipeline infrastructure and LNG export facilities. The gas could supply Centrica customers in the UK, with additional optionality provided by Centrica's North American customer base and the opportunity to sell into other Atlantic Basin markets. Subject to development plan approval, the first gas from Block 5(c) could be delivered in 2014.