British Energy owner Centrica has signed a 10-year deal worth more than 20 billion pounds ($27.07 billion) to receive gas from Norwegian producer Equinor, the companies said on Thursday.Britain is seeking to cut its reliance on gas to help meet climate targets but around 70% of its homes are heated using the fossil fuel while gas-fired power plants account for around a quarter of the country's electricity supply.

British Gas owner Centrica (OTCPK:CPYYF) (OTCPK:CPYYY) signed a £20B (~$27.1B) agreement to receive gas from Norwegian producer Equinor (NYSE:EQNR) starting later this year, the companies announced Thursday.

British energy giant Centrica, the owner of British Energy, has entered into a substantial long-term agreement with Norwegian energy company Equinor.