Completion of Cygnus, GMA & SNS interests sale

Summary by AI BETAClose X

Centrica plc announced the completion of the sale of its remaining 15% interest in the Cygnus gas field, along with other producing assets in the Greater Markham Area and Southern North Sea, to Serica Energy plc. The transaction resulted in a final consideration of £33 million and the transfer of £44 million in decommissioning liabilities. Following this sale, Centrica's principal producing asset is the Morecambe Hub, which holds total retained reserves of 9 mmboe. The company's strategic focus will now be on maximizing value from the Morecambe Hub, advancing the Morecambe Net Zero carbon storage project, and managing the decommissioning of its facilities.

Disclaimer*

Centrica PLC
01 October 2026
 

1 October 2026

 

 

Centrica plc

Completion of Cygnus, Greater Markham Area and Southern North Sea interests sale

 

Centrica plc is pleased to announce that Spirit Energy has completed the sale1 of its remaining 15% interest in the Cygnus gas field, and all other producing assets in the Greater Markham Area and Southern North Sea, to Serica Energy plc for final consideration of £33 million and the transfer of £44 million of decommissioning liabilities.

 

With completion of the transaction, the Morecambe Hub is now Spirit Energy's principal producing asset, with total retained reserves of 9 mmboe2. Spirit Energy's primary focus will remain on maximising value from Morecambe whilst progressing the Morecambe Net Zero carbon storage project, alongside safely and efficiently decommissioning its facilities and wells with minimum environmental impact.

 

Enquiries:

Investors and Analysts:

email: ir@centrica.com


Media:

email: media@centrica.com

tel: +44 (0)1784 843000

 

Notes:

1. Transaction initially announced 16th December 2025.
2. As at 31 December 2025.

 

 

Centrica plc is listed on the London Stock Exchange (CNA)
Registered Office: Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD

Registered in England & Wales number: 3033654
Legal Entity Identifier number: E26EDV109X6EEPBKVH76
ISIN number: GB00B033F229

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 

Companies

Centrica (CNA)
UK 100
FTSE quotes by TradingView

Latest directors dealings

All directors dealings today