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Centrica puts Caribbean gas sites up for sale amid disposal plans
[June 23, 2014]

Centrica puts Caribbean gas sites up for sale amid disposal plans

(City A.M. (UK) Via Acquire Media NewsEdge) BRITISH-Gas owner Centrica has appointed Canadian finance giants Macquarie to auction off the energy firm's gas operations in Trinidad.

The FTSE 100 firm, run by chief executive Sam Laidlaw, is hoping to sell its gas operations in the Caribbean state along with assets in Tobago for a price tag in the region of £250m, it is thought.

Centrica declined to comment. The energy firm first won a licence to explore for natural gas in the Caribbean in 2007 to help expand supplies for UK customers.

The sale, first reported by the Sunday Times, is part of a wider disposal programme by Laidlaw ahead of his exit from the company.

Centrica announced in May plans to sell three of its eight gas-fired power plants at Langage, Humber and Killingholme.

In December last year it offloaded another three power stations in Texas to Blackstone for £420m and used the cash to buy back shares from investors.

(c) 2014 City A.M.

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