Centrica PLC Signs Long-Term Gas Sales Agreement with Equinor

Centrica PLC, a UK-based integrated energy company, has entered into a long-term gas sales agreement with Equinor, a Norwegian energy firm. The agreement, valued at £20 billion or $27 billion, will provide approximately 9% of the UK’s annual gas demand until 2035.

Key details of the agreement include:

• Value: £20 billion or $27 billion
• Duration: Until 2035
• Gas demand coverage: Approximately 9% of the UK’s annual gas demand

The agreement is expected to have a positive impact on Centrica’s financials, with the company’s stock price experiencing a moderate increase. Centrica’s shares are trading at a relatively high price compared to their 52-week low.

Financial Impact

• Stock price increase: Moderate
• Comparison to 52-week low: Relatively high