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Centrica signs deal with Equinor for additional winter gas supplies

Centrica (CNA) announced last week that it had signed an agreement with Norway’s Equinor for additional gas supplies to the United Kingdom during the next three winters.

Many countries across Europe are seeking to secure additional gas from other sources as they try to reduce reliance on Russian fuel imports.

British Gas owner, Centrica said Equinor would deliver additional 1 billion cubic meters (bcm) of gas supplies to the company that will help heat an additional 4.5 million homes in the winters.

Although Russia only meets about 4% of Britain’s gas needs, a significant disruption in supply would affect prices in Europe and make it harder for Britain to secure gas from others.

The new deal takes Centrica’s total supply deal with Equinor to over 10 bcm a year, around 12% of Britain’s total gas demand.

CNA Daily Candle Chart

MONY CFO moves to Deliveroo

Moneysupermarket.com Group (MONY) announced that CFO, Scilla Grimble will be moving to Deliveroo.

Scilla Grimble had been with Moneysupermarket since 2019.

In a statement, released yesterday, Moneysupermarket said:

“A search for Scilla’s successor is underway and a further announcement on succession will be made in due course. Scilla will remain as CFO to help deliver on the execution of our strategy and support a smooth transition into 2023.”

The market’s reaction to the news has been relatively neutral with Moneysupermarket and Deliveroo gaining less than 1% on the day.

MONY Daily Candle Chart