In line with our strategy to decarbonise the portfolio and reduce our exposure to oil and gas production, on 8 December 2021 we announced the proposed sale of Spirit Energy’s Norwegian exploration and production business and the Statfjord field. Spirit will effectively be in run-off, and we will not explore for new hydrocarbon reserves. We will focus on ensuring Spirit can fund its decommissioning liabilities while pursuing opportunities to leverage existing infrastructure to help the UK on its path to net zero.

Spirit Energy 

In 2017, we launched Spirit Energy as a joint venture with German energy and infrastructure firm Stadtwerke München (SWM). This new company was the result of a combination of our then E&P business and Bayerngas Norge AS, which was formerly majority-owned by SWM.

Spirit Energy’s portfolio is predominantly gas (96%), providing vital, primary energy to fuel our homes and businesses in the UK and Europe. It is pushing field life out, and pulling net zero forwards, reducing emissions as it goes.

Spirit Energy continues to create value with its industry-leading decommissioning capability and performance, and actively shares learnings and experience with regulators and industry peers. The company is even more proud of – and excited by – its ambition to be a leader in the energy transition and is actively exploring exciting opportunities around net zero.

Centrica Energy Storage Limited

Centrica Energy Storage Limited are part of the infrastructure area of the Centrica PLC family.

We operate the Rough gas storage facility in the Southern North Sea and the Easington onshore gas processing terminal in East Yorkshire. We restarted storage operations in 2022 to bolster the UK's energy security and help reduce consumer bills.

Rough is the UK's largest gas storage reservoir and is located approximately 29km from the East Yorkshire coast and 3km below the sea bed. The area of the reservoir is the same size of almost 2000 football pitches.

Today, Rough provides half of the UK's gas storage, being able to store 54 bcf of gas - enough to provide the equivalent volume of gas to heat 2.4 million homes over winter.

Formerly Centrica Storage Limited (CSL), we have recently changed our company name to signify a change in ambition. We wanted to keep storage in our name as it is at the heart of what we do now, and our plans well into the future. The plus signifies our wider ambition outside of storage, including onshore and offshore hydrogen production and fuel-switching our existing operations to hydrogen to minimise our environmental emissions.