UK’s Centrica Signs 10-Year Gas Deal with Canada’s Whitecap

Centrica Energy has signed a 10-year agreement to purchase 50,000 MMBtu per day of Canadian natural gas from Whitecap Resources, with pricing linked to Europe’s TTF benchmark.

(P&GJ) — Centrica Energy has entered into a long-term natural gas supply agreement with Canadian producer Whitecap Resources Inc., securing 50,000 MMBtu per day of gas beginning in April 2028 under a 10-year contract structure.

Under the agreement, volumes will be priced against the Dutch Title Transfer Facility (TTF), the benchmark for European gas markets. The contracted supply equates to approximately five LNG cargoes annually.

The deal aligns feed gas pricing with European market signals, a move that supports Centrica’s strategy of managing LNG portfolio exposure to global price volatility.

“Entering into this innovative agreement with Whitecap underlines our focus on building a balanced LNG portfolio through strategic partnerships across the globe allowing us to deliver reliable energy solutions to global markets” said Chris O’Shea, Group Chief Executive at Centrica.

For Whitecap, the agreement provides exposure to international LNG-linked pricing, offering diversification beyond North American benchmarks. The company operates across the Western Canadian Sedimentary Basin and has been expanding its natural gas portfolio as Canada’s role in global LNG markets grows.

“This long-term agreement underscores our commitment to being a reliable source of energy. As Canada's role in the international natural gas markets continues to grow, Whitecap is looking forward to this partnership and the benefits that it will bring to each company and our respective stakeholders” said Grant Fagerheim, President and Chief Executive Officer at Whitecap Resources Inc.

Centrica said the agreement strengthens its LNG trading portfolio, which is supported by global trading desks in London and Singapore.