U.K. based energy firm Centrica and Thai state-owned oil and gas giant PTT Group have signed heads of agreement for a long-term liquefied natural gas (LNG) supply deal.
Under the agreement, PTT will supply LNG to Centrica for a 10-year period across a range of destinations in Asia, with deliveries expected to begin in 2028.
The agreement marks a significant step forward in Centrica’s strategic efforts to grow its LNG portfolio.
It provides access to diverse markets in Asia, whilst deepening Centrica’s relationship with PTT, an important partner in Asia.
For PTT, this deal represents its first, long-term, international LNG sale.
“We are proud to partner with PTT. This agreement supports our global LNG ambitions and is a testament to the strong partnerships Centrica has built in Asia. LNG is a key part of Centrica’s long-term strategy and will continue to play a pivotal role in enabling the energy transition,” said Chris O’Shea, Centrica’s Chief Executive.