Ithaca Energy to acquire a 46.25% stake in the Cygnus gas field from Centrica for £215m.

Ithaca Energy, a British based, Israeli owned, oil and gas company, agreed to acquire a 46.25% stake in the Cygnus gas field from Spirit Energy, an oil and gas production business, for £215m. "Our focus is on delivering value for Centrica's colleagues, customers and shareholders through the energy transition. Through this disposal we are taking another step in reducing our exposure to gas production while accelerating the delivery of enhanced value to shareholders, allowing the Spirit team to further focus on delivering the largest carbon storage project in Europe at Morecambe Net Zero," Chris O'Shea, Spirit Energy Chairman.