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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.