Centrica

Centrica plc said this week it plans to shutter permanently its Rough natural gas storage facility off the east coast of England after concluding it could not be returned safely to operation. The closure of the largest gas storage site in the UK could lead to more reliance on liquefied natural gas (LNG) imports, analysts said.

Centrica plc North American subsidiary Direct Energy will sell three natural gas-fired power stations in Texas to The Blackstone Group LP for $685 million in cash, the UK utility said Wednesday.

Cheniere Energy Inc. unit Sabine Pass Liquefaction (SPL) has filed with the U.S. Department of Energy (DOE) for authorization to export up to 314 Bcf of liquefied natural gas (LNG) per year for a term of 20 years from the Sabine Pass Liquefaction Project in Louisiana to countries that have free trade agreements (FTA) with the United States and to non-FTA countries.

Cuadrilla Resources Ltd. plans to hydraulically fracture (frack) and test the shale at its exploration well at Grange Hill in the UK’s Bowland Basin and intends to drill, frack and test gas flows at up to six new temporary well sites in the Borough of Fylde, in Lancashire, England, the company said Friday.

Centrica plc subsidiary Direct Energy has completed its $300 million acquisition of Pittsburgh-based Strategic Energy LLC, a subsidiary of Great Plains Energy Inc. Direct Energy said its commercial and industrial business unit, Direct Energy Business, is now positioned as a top-three competitive retailer of gas and electricity to commercial and industrial customers in North America. The deal was announced in April (see Daily GPI, April 3).

Hot on the acquisition trail, Direct Energy, a subsidiary of Centrica plc, has agreed to acquire all of the Canadian gas and oil assets of Calgary-based TransGlobe Energy Corp. for C$56.7 million, the company said. The transaction is expected to close by the beginning of May with an effective date of Jan. 1, 2008.

Hot on the acquisition trail, Direct Energy, a subsidiary of Centrica plc, has agreed to acquire all of the Canadian gas and oil assets of Calgary-based TransGlobe Energy Corp. for C$56.7 million, the company said. The transaction is expected to close by the beginning of May with an effective date of Jan. 1, 2008.

Direct Energy, a subsidiary of Centrica plc, has signed an agreement to acquire Pittsburgh-based Strategic Energy LLC, a subsidiary of Great Plains Energy Inc., for a total cash consideration of $300 million, the company said last Wednesday. The transaction is debt-free and includes an amount of working capital that will be subject to a subsequent true-up.

Direct Energy, a subsidiary of Centrica plc, has signed an agreement to acquire Pittsburgh-based Strategic Energy LLC, a subsidiary of Great Plains Energy Inc., for a total cash consideration of $300 million, the company said Wednesday. The transaction is debt-free and includes an amount of working capital that will be subject to a subsequent true-up.