In a measure taken to help it move out of insolvency, Canadian Superior Energy Inc. said last week it has agreed to unload a 45% interest in gas development Block 5(c), located off the southeast coast of Trinidad, to Centrica plc for US$142.5 million in cash. Centrica said the gas — processed into liquefied natural gas (LNG) — could supply its customers in the UK, with additional optionality provided by Centrica’s North American customer base and the opportunity to sell into other Atlantic Basin markets.
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Centrica Acquires Canadian Superior’s Interest Offshore Trinidad
In a measure taken to help it move out of insolvency, Canadian Superior Energy Inc. said Tuesday it has agreed to unload a 45% interest in gas development Block 5(c), located off the southeast coast of Trinidad, to Centrica plc for US$142.5 million in cash. Centrica said the gas — processed into liquefied natural gas (LNG) — could supply its customers in the UK, with additional optionality provided by Centrica’s North American customer base and the opportunity to sell into other Atlantic Basin markets.
June 3, 2009
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