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BNN: Suncor sells assets to Centrica, Qatar Petroleum

Blog by Brad Herman | April 15th, 2013

Suncor Energy Inc. (SU-T 28.82 0.00 0.00%) is selling the majority of its conventional natural gas business in the Western Canadian Sedimentary Basin for $1 billion in cash to Centrica PLC and Qatar Petroleum International.

British energy giant Centrica will hold a 60-percent stake, and state-owned Qatar a 40-percent share, in a newly created partnership that will hold the assets, to be operated by Centrica.