Centrica Said to be Targeting Shale Gas

Bloomberg reports that Centrica Plc, is exploring purchases of gas assets in North America as supplies from shale formations surge, four people familiar with the process said.

A decision on how and whether to proceed may occur in October, said one of the people, who declined to be identified as discussions are ongoing.

The U.K.’s largest energy supplier has allocated 2 billion pounds ($3.25 billion) to spend on U.S. assets by 2015.

In March of this year, Centrica was amongst companies reportedly interested in partnering with PGNiG on the Polish gas monopoly's shale gas licenses. Discussions reportedly involved the partnering or exchange of shale gas concessions for other opportunities.