Centrica Expands to New York With Build-Out of Gas Trading Unit

Centrica Plc is opening a trading office in New York that will underpin its growth in natural gas.

Subsidiary Centrica Energy will establish its first US commodity-trading office aimed at building a physical gas business, Chief Executive Officer Chris O’Shea said in an interview. The sector is betting hundreds of billions of dollars that the fuel has a place in the world’s energy mix through at least 2050.

“Trading physical gas is good business, it gives us the option to do a lot more,” O’Shea, 51, said. “In order to do that, we will need boots on the ground.”

Chris O’Shea

Photographer: Dominic Lipinski/Bloomberg