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Gas Writedowns Hit Europe With $1.4 Billion Blow to Centrica

  • Utility still plans to sell Spirit Energy by end of this year
  • Shares plunge most since July as profit misses estimates
Shipment Of Liquefied Natural Gas (LNG) Arrives At National Grid Plc's GrainLNG Plant
Photographer: Jason Alden/Bloomberg
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Centrica Plc became the first energy company to book a major writedown on production assets in Europe as the global natural gas glut slashed valuations on both sides of the Atlantic.