Centrica signs 10-year gas supply agreement with Canada's Peyto

British energy company Centrica has signed a 10-year natural gas supply agreement with Canadian producer Peyto Exploration & Development. Deliveries are scheduled to begin in 2029, Centrica said.

Under the agreement, Peyto will supply Centrica with 50,000 MMBtu of natural gas per day. The contracted volume is equivalent to approximately five LNG cargoes per year.

Gas pricing will be linked to the European TTF benchmark. According to Centrica, linking feed gas pricing to European gas benchmarks while maintaining flexibility across global markets will enhance the company's ability to manage market exposure and optimise its LNG portfolio.

For Peyto, the agreement provides long-term exposure to international LNG-linked pricing, supporting the company's strategy to diversify beyond North American gas benchmarks.

In early February 2026, Centrica signed a similar long-term natural gas supply agreement with another Canadian producer, Whitecap Resources.