Centrica Eyes Sale of LNG Portfolio: Press

UK-based energy supplier Centrica is looking to sell its portfolio of LNG supply contracts and other assets, the Wall Street Journal has reported, citing sources. The target value of the transaction is unknown, the newspaper said, and similar recent deals suggest Centrica might have to pay buyers to take the business off its hands.

Centrica, which suffered a £135mn ($169mn) statutory loss in the first half, sold its North American energy supply, services and trading subsidiary Direct Energy to US firm NRG Energy for $3.63bn in cash in July. It also plans to dispose of its nuclear business and its majority stake in North Sea-focused upstream player Spirit Energy, but said in July it would put those sales on hold until financial and commodity markets had improved.