SCOTTISH Gas owner Centrica has reached a 15-year deal to ship liquid natural gas from the US.

The company said it would buy a million tonnes per year from 2026 as part of the contract with the Delfin Deepwater Port off the cost of Louisiana.

The £7 billion deal gives the builders of the port the certainty they need to put money into the first floating LNG site in the US, by the end of this year.

"Market demand for long-term LNG continues to be strong and buying activity from Europe and various other geographies has accelerated over the past few months," said Delfin chief executive Dudley Poston.

Chris O’Shea, Centrica Group chief executive, said: "Natural gas has now been recognised as an essential transition fuel on the path to net zero just at the point geopolitical uncertainty is impacting the global gas market.

"Additional US gas export capacity will help increase UK, European and global energy security, reflecting the increasing importance of LNG in the global gas supply chain."

It comes as European buyers are looking for new sources of gas as supplies from Russia are strangled.

Edinburgh investment giant falls short of profit forecast

SHARES in abrdn plunged by more than four per cent this morning after the Edinburgh-based asset management giant fell short of profit expectations and reported a rise in outflows from its investment funds in the first half of the year.

The company cited the “challenging global economic environment and market turbulence” as it recorded total net outflows of £35.9 billion in the first half, compared with £5.6bn in the first half of 2021.

Scots music firm hopes funding will help it make big noise

A SCOTTISH designer and manufacturer of musical accessories is looking to develop two new innovative products after landing a six-figure funding deal.

Noisy Clan is working to expand its range of accessories designed to make it easier for musicians of all ages and abilities to practice and perform music.

​​​​​​​​​​​​​​​​​​​​​​​​​Sign up for free: You can now get the briefing sent direct to your email inbox twice-daily, and Business Week for the seven-day round-up on Sunday 👇


Scottish Gas owner in £7bn deal to ship liquid natural gas from US