UK Energy Firm Centrica and Equinor Sign £20 Billion Deal to Boost Gas Supply and Plan for Hydrogen Integration
Key Ideas
- UK's Centrica and Equinor strike a £20 billion deal to supply 5 billion cubic meters of natural gas annually to the UK through 2035, strengthening energy partnership.
- Agreement includes a provision for potential hydrogen integration, aligning with the UK's decarbonization goals and building towards a low-carbon hydrogen economy.
- Centrica plans to replace some or all gas volumes with hydrogen in the future, complementing their development of hydrogen-ready gas plants, like the 100MW project in Lincolnshire.
- Equinor's CEO highlights the significance of the deal in supporting cleaner energy solutions and reinforcing the commitment between the UK and Norway towards sustainability.
UK energy company Centrica has signed a significant £20 billion agreement with Norwegian firm Equinor to provide 5 billion cubic meters of natural gas yearly to the UK until 2035. This deal, pivotal for energy security, also paves the way for potential hydrogen incorporation to aid the UK's decarbonization efforts. Centrica aims to transition to hydrogen in the future, building hydrogen-ready gas plants like the one in Lincolnshire. Equinor, a long-time gas supplier to the UK, emphasizes the partnership's importance, showcasing a joint dedication to cleaner energy solutions and hydrogen advancement.
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