Centrica awarded stake in Block 2AB off Trinidad and Tobago

Centrica PLC, parent of British Gas, said the Trinidad and Tobago Energy Ministry has awarded it a share of an offshore license as part of its bid in the Trinidad and Tobago onshore and shallow water bid rounds.

May 1, 2007

Eric Watkins
Senior Correspondent

LOS ANGELES, May 1 -- Centrica PLC, parent of British Gas, said the Trinidad and Tobago Energy Ministry has awarded it a share of an offshore license as part of its bid in the Trinidad and Tobago onshore and shallow water bid rounds.

Centrica will have a 32.5% interest in offshore Block 2AB near the Trinidad and Tobago coast and existing LNG export facilities.

Centrica will partner with Tullow Oil PLC, operator and holder of a 32.5% stake in the license, and with state-owned Petrotrin 35%.

Trinidad and Tobago is one of the largest exporters of LNG in the Atlantic Basin, currently accounting for about 80% of LNG imported into the US, said Centrica.

Contact Eric Watkins at [email protected].