LNG

LNG players Statoil of Norway and the UK's Centrica have entered into a long-term gas sales agreement woth 13 billion pounds ($20Bln) for the delivery of 5 billion cubic metres per year from 2015 to 2025 to the UK market. This new long-term pipeline deal follows an existing agreement between Statoil and Centrica that expires in 2015. In a separate transaction, Centrica said it reached agreement with Statoil to acquire the Kvitebjørn oil and gas assets in the Norwegian sector of the North Sea for US$1.5Bln in cash.