Centrica, Qatar Pay CA$1B For Canadian Gas, Oil Plays

Law360, Los Angeles (April 15, 2013, 5:27 PM EDT) -- British multinational utility company Centrica PLC and Qatar Petroleum International, the international arm and wholly owned subsidiary of Qatar Petroleum, will jointly acquire a package of natural gas and crude oil projects from Canada's Suncor Energy for CA$1 billion ($980 million), Centrica announced Monday.

The acquisition, which is located in the Western Canadian Sedimentary Basin and includes associated infrastructure, is the first investment under a joint venture agreement reached between Centrica and Qatar Petroleum in December 2011, according to Centrica. Centrica said the acquisition will be...
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