07:11 ET<\/span>
\n<\/span><\/p>\nCentrica has signed a major new gas supply deal with Qatargas worth \u00a32bn. <\/p>\n
The three-year deal will secure a supply of liquefied natural gas (LNG) equivalent to 10% of the UK households’ annual gas demand, Centrica said. <\/p>\n
The parent company of British Gas said the deal was strategically important as competition for LNG was intensifying from emerging economies. <\/p>\n
It was signed as Prime Minister David Cameron toured the Middle East with a group of business leaders. <\/p>\n
Qatar, which has the world’s third largest gas reserves, already supplies the UK with 15% of its gas. <\/p>\n
Centrica chief executive Sam Laidlaw said he hoped the deal would be the start of a longer term working relationship. <\/p>\n
Mr Cameron stressed the importance of the deal for the UK. <\/p>\n
“This important agreement is good for Britain; good for our energy security, good for jobs, and good for economic growth,” he said.<\/p>\n
Bank interest<\/span><\/p>\nAfter meeting Mr Cameron, the Qatari prime minister expressed interest in doing more deals with UK companies. <\/p>\n
Asked if he wanted to buy a stake in partially government-owned Royal Bank of Scotland or Lloyds Banking Group, Sheikh Hamad bin Jassim said: “About any investment in the state or partially-state owned banks, we are very open for any investment in the UK. <\/p>\n
“In fact we discussed some ideas with the prime minister. Our team has been engaged and we will continue to discuss investment in the UK,” he said.<\/p>\n
The Centrica deal involves the delivery of 2.4 million tonnes of LNG a year to the UK’s Isle of Grain facility. <\/p>\n
The UK already imports more than half of its gas. This is expected to rise to 83% by 2025, Centrica said. <\/p>\n
Centrica, which supplies about a quarter of UK households with gas, will announce its full-year profit figures on Thursday. <\/p>\n<\/p><\/div>\n<\/p>\n
Read more:
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