Ancala to sell 50% stake in Dragon LNG to VTTI
Transactions - MAY 8, 2024

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Ancala to sell 50% stake in Dragon LNG to VTTI

by Kali Persall

Ancala has agreed to sell its 50 percent interest in Dragon LNG Group, a liquefied natural gas (LNG) regasification terminal located in Milford Haven, Wales, to VTTI, a company specializing in energy storage and the development of energy infrastructure. The transaction marks Ancala’s sixth exit from its first flagship infrastructure fund, which continues to outperform. Financial terms were not disclosed.

Dragon is one of three LNG terminals in the United Kingdom. The terminal has a gas-send-out rate of up to 9 billion cubic meters per annum, which is enough to supply 10 percent of the United Kingdom’s gas needs.

Ancala acquired its 50 percent interest in Dragon in 2019. The other 50 percent interest is held by Shell, which will remain a shareholder after the transaction. The sale of Ancala’s stake in Dragon comes after an active ownership period, in which LNG volumes through the terminal increased by approximately three times.

Since Ancala’s acquisition,

Forgot your username or password?