Centrica Terminates Petronas LNG Supply Deal

Centrica agreed to terminate the 15 year liquefied natural gas (LNG) supply agreement between Petronas and Centrica with immediate effect due to certain conditions precedent in the contract not having been satisfied. Centrica and Petronas continue to seek ways in which the two companies can work closely together in the future.

The contract was signed in August 2004 for an average annual volume of 3 billion cubic metres (bcm), with lower volumes in the early years, with expected delivery through the Dragon LNG terminal at Milford Haven.