UK Company Buys B2B Energy Biz with Marcellus Contracts from Hess

The UK-based company Centrica has just purchased the energy marketing division of Hess Corporation for a reported $731 million. The energy marketing division is a business-to-business supplier of natural gas and electricity in the eastern U.S. As part of the purchase, Centrica gets an “extensive portfolio” of existing gas contracts, including agreements with Marcellus Shale gas producers, gas storage and pipeline capacity.

The Centrica announcement:

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