CNA: Centrica plc: Centrica and QPI to acquire further gas assets in Canada

  CNA: Centrica plc: Centrica and QPI to acquire further gas assets in Canada

UK Regulatory Announcement

LONDON

15 May 2014

Centrica and QPI to acquire further gas assets in Canada

CQ Energy Canada Partnership (CQE), the joint venture between Centrica plc and
Qatar Petroleum International (“QPI”), has agreed to acquire a package of
natural gas assets in the Foothills region of Alberta from Shell Canada Energy
for C$50million (£27 million).

As part of the transaction Shell will also receive CQE’s interest in the Burnt
Timber gas processing plant and its interest in the Waterton undeveloped lands
in South West Alberta.

CQE estimates that the assets to be acquired have 2P reserves of 90bcfe and
will increase the partnership’s production in the region by approximately
24mmcfe/d.

Ends

Notes to editors

  *The effective date of the transaction is 1 March 2014.
  *In December 2011, Centrica and QPI signed a Memorandum of Understanding to
    seek opportunities to invest jointly in energy-related investments.
  *In April 2013, Centrica and QPI announced the C$1 billion acquisition from
    Suncor of a package of producing conventional natural gas and crude oil
    and associated infrastructure in the WCSB. The acquisition was made
    through the CQ Energy Canada Partnership (Centrica holding a 60 per cent
    operator stake and QPI holding a 40 per cent stake).
  *Last week, Centrica plc and Qatar Petroleum International announced they
    had reached an agreement whereby QPI will acquire 40 per cent of
    Centrica’s wholly owned Canadian natural gas business for C$200 million
    (£107 million). The assets will also be placed into the CQEnergy Canada
    Partnership.

Centrica Investor Relations: 01753 494900

Centrica Energy Media Relations: 07789 570598

Contact:

Centrica plc
 
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