Centrica and Qatar Petroleum International (QPI) have bought gas and oil assets in Canada from Suncor Energy for £650million, including some with potential for shale-gas production.
The deal is the first joint investment for Britain’s biggest energy supplier and the world’s largest liquefied natural gas exporter since they signed a memorandum of understanding in 2011. It also shows how Middle East oil and gas producers are increasingly interested in getting a share of the unconventional oil and gas boom that has hit their sales to North America. The fields are in the Western Canadian Sedimentary Basin.