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Centrica trading update

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Nov 21 (LNGJ) – Centrica, the UK utility and energy company with an LNG import portfolio, said in a trading update that it had delivered growth in total customer accounts, higher margins and returns in energy supply in North America as well as strong trading and optimisation in Europe, offset by lower European natural gas prices.

   “The company has also experienced lower near-term European wholesale gas prices, although 2019 Exploration and Production earnings are largely protected by forward hedging,” said Centrica, which has US LNG volumes under a 20-year contract with Cheniere Energy and supplies booked from Mozambique. The company expects full-year adjusted operating cash flow to be in the lower half of the targeted £1.8-£2.0 billion ($2.4Bln-$2.6Bln) range and year-end net debt to be within the targeted £3.0-£3.5Bln range.

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