Centrica Energy has signed a long-term natural gas purchase agreement with Whitecap Resources a leading Canadian producer dedicated to the responsible development of oil and gas resources across the Western Canadian Sedimentary Basin.
Starting in April 2028, Whitecap will deliver 50,000 MMBtu (1,275,000 m3) of natural gas per day to Centrica Energy for a period of 10 years – equivalent to roughly five LNG cargoes each year. The supply will be priced against the Title Transfer Facility (TTF), the benchmark for European gas markets.
This agreement advances Centrica’s strategy of managing market price exposure across its LNG portfolio by linking feed gas costs to European price signals. For Whitecap, the agreement provides access to international LNG-linked pricing, supporting the company’s natural gas price diversification strategy.
‘Entering into this innovative agreement with Whitecap underlines our focus on building a balanced LNG portfolio through strategic partnerships across the globe allowing us to deliver reliable energy solutions to global markets,’ says Chris O’Shea, group chief executive at Centrica.
‘This long-term agreement underscores our commitment to being a reliable source of energy. As Canada’s role in the international natural gas markets continues to grow, Whitecap is looking forward to this partnership and the benefits that it will bring to each company and our respective stakeholders,’ adds Grant Fagerheim, president and CEO at Whitecap Resources Inc.
Centrica Energy’s LNG trading desks in London and Singapore enable round-the-clock coverage of global energy markets. This agreement further strengthens Centrica’s diversified LNG portfolio and supports its mission to deliver secure, affordable, and sustainable energy to customers worldwide.
