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Centrica starts buying Cheniere LNG under 20-year contract

Reuters - UK Focus

LONDON, Sept 30 (Reuters) - Centrica has begun buying liquefied natural gas (LNG) from U.S. producer Cheniere under a long-term contract, the UK utility said in a statement on Monday.

The first cargo was loaded on LNG tanker Gaslog Skagen over the weekend of Sept. 28-29 and is heading to Europe, Centrica said.

Under their 20-year contract, Centrica will buy around 1.75 million tonnes of LNG per year from Train 5 of Cheniere's Sabine Pass production facility in Louisiana.

The cargoes will be loaded on a free-on-board (FOB) basis, meaning Centrica chooses their destinations. (Reporting by Ekaterina Kravtsova; editing by Jason Neely)