Centrica and Stadtwerke establish new joint company

A joint venture between Centrica, Stadtwerke München, and Bayerngas will create a new, leading European company in the exploration and production of oil and gas.

British energy company Centrica and German Stadtwerke München have agreed to start up a new company.

The plan is to combine Centrica's European E&P oil and gas activities with Bayerngas Norge to form a new joint venture, giving rise to a leading independent E&P company.

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