Energy firm Centrica today announced a £13bn 10 year gas supply deal from 2015 with Norwegian state-owned oil firm Statoil.
The deal guarantees the supply of 50bn.m³ (50BCM) of gas to the UK, about 5% of total demand. Britain imports about 50% of its gas requirements, according to Centrica, with today’s deal increasing supply by 25%.
Prime minister David Cameron said he “warmly” welcomed the announcement, adding that it “underlines the strength and depth” of the partnership between the UK and Norway.
Centrica has also agreed a £1bn deal to buy production and development rights for oil and gas sites in the Norwegian North Sea.