The Norwegian energy group Equinor has signed a long-term gas sales agreement with the British energy group Centrica to supply 55 TWh/year (around 5 bcm/year) of natural gas from the Norwegian continental shelf (NCS) over a 10-year period starting on 1 October 2025. The total contract value is estimated at £20bn (nearly €24bn) assuming current prices.
Norway currently supplies nearly 2/3 of the United Kingdom's gas requirements, with Equinor being the major supplier. The contracted volumes will cover nearly 10% of the UK gas demand.
Centrica is one of the largest energy groups in the United Kingdom, supplying energy and services to over 10 million residential and business customers, mainly in the UK and Ireland.