British Gas owner buys £1.5bn gas terminal in big bet on fossil fuel reliance | Centrica

The owner of British Gas Has a function of £ 1.5bn to import the UK on fossil fuel afterppling a deal to buy the largest gas instaminal of the Europe.

Centric plans to partner with a US private equity to import the island, who can import the world's naturally, even the past year since the lowest level since the early 1990s.

The couple will buy the Gasterminal of the National Grid of the FTSE 100 Energy companies, who has been sold in the gas infrastructure in the benefit of investing in electricity.

Chris O'Shea, the chief board of Centrica, said the “strategic assets” would continue to support the energy security “for many decades to come” during the transition to come.

The deal comes to Centricas £ 20BN deal with Norway's State Harbor Business Company Company Earlier this summer to buy enough gas to meet almost 10% of the needs of the UK for the next decade.

Under the agreement will buy centrica around 5 million cubic meters of gas Of equinor – enough to provide 5m UK homes – each year out of this winter to 2035 at the predominant market rate.

O'Shea also called the government to support a £ 2BN project to support his rough gas storage facility, the largest gas shop in Britain, as a “Very valuable insurance policy“Because if the sun doesn't shine and don't blow the wind.

The Gas transferts of Britain Tumblongen by 47% not to include because the pandemic, no matter locality of the North Sea and gas in the North Sea to his lowest level dropped.

British households are expected to continue to use for heating and efforts to replace gas boys with electrical warmth peaks have difficulty installing the purpose of installing 600,000 per year.

But the electricity industry is expected to dramatic will cut the confidence on gaspes in the coming years.

The UK has already significantly reduced the use of gas to generate electricity because of a rise in electricity imports from Europe and lower energy wind power generated more electricity than gas In 2024 contribution of 30% of the power of the UK need for exceedingly more than 26% of gas plants or low carbon generation Hit a record high.

By the end of Desennium, the government hopes GaseSplants as a final resort option in the UK resort of the UK and generate a plans to make a plans to make a plans for a plans to make a plans.

Last month, Centrica hit a deal To take a 15% stake in the scheduled measure of nuclear power plant on the Sufkolk-coast, which is expected to start working in the middle 2030s.