(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 5. Equinor and Centrica have signed a major gas sales agreement worth approximately 20 billion pounds, under which Equinor will supply 55 terawatt hours (around 5 billion cubic meters) of natural gas annually to the UK for ten years starting 1 October 2025, Trend reports.

The contract reflects market-based pricing and aims to support the UK's long-term energy security.

The agreement will cover nearly 10% of the UK's annual gas demand, making it one of Equinor's largest bilateral contracts. The gas will be sourced from the Norwegian Continental Shelf, where Equinor has been a key energy supplier to Europe for nearly five decades.

Equinor CEO Anders Opedal said the deal reinforces the strategic energy partnership with the UK and supports the transition to renewables.“The flexibility that natural gas offers will play a key role in enabling further development of renewable power and decarbonisation in the UK,” he said.

Equinor's UK Country Manager Alex Grant added that the agreement is central to Equinor's ambitions to remain a reliable energy provider while helping decarbonise industries.

Centrica Group Chief Executive Chris O'Shea called the deal a “landmark agreement” and highlighted the role of natural gas as a transition fuel. He also emphasized the importance of energy storage to complement future hydrogen market development.

Equinor continues to expand its UK footprint with investments in offshore wind, CO2 storage, and gas power with carbon capture.

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