By Susanna Twidale
LONDON (Reuters) - Centrica (LON:CNA), owner of Britain's largest energy suppler British Gas, said on Tuesday it would exit its gas supply agreements with Russian counterparts, principally Gazprom (MCX:GAZP).
British energy companies, including BP (LON:BP) and Shell (LON:RDSa), have moved to exit Russian operations following Russia’s invasion of Ukraine.
Centrica has a supply agreement with Gazprom Marketing & Trading (the UK entity) through which gas can be sourced from the open market and this does not necessarily mean Centrica is directly supplied with gas from Russia.
“We intend to exit our gas supply agreements with Russian counterparts, principally Gazprom, as a matter of urgency,” Centrica Chief Executive Chris O’Shea said in an emailed statement.
"We are working through the details of how best to do this, additionally we will ensure we are compliant with all relevant sanctions," he said.
(This story corrects the name of Gazprom trading company to Gazprom Marketing & Trading).