The U.K. government is negotiating "substantial purchase agreements" with liquefied natural gas producers including Cheniere Energy ( NYSE: LNG ) and Venture Global, as it faces pressure to bolster Britain's energy security ahead of the winter demand surge, Sky News reported Friday.
Any deal with Cheniere ( LNG ) or Venture Global would be worth at least hundreds of millions of dollars and likely to last for two years or more, according to the report.
The new government led by Prime Minister Liz Truss established the Energy Supply Taskforce under the leadership of Maddy McTernan, who also led the COVID Vaccine Taskforce, and Truss said the new unit is "already negotiating new long-term energy contracts with domestic and international gas suppliers to immediately bring down the cost of this intervention" to reduce household energy bills.
U.K. imports of LNG comprised 17% of the gas supplied through production and imports last year.
Cheniere Energy ( LNG ) is one of "three energy stocks to benefit from the LNG boom," Leo Nelissen writes in an analysis published recently on Seeking Alpha .
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U.K. steps up talks with Cheniere, others to secure gas supplies - Sky News