Energy Capital Partners (ECP) and Centrica have agreed to acquire the Isle of Grain liquified natural gas terminal (Grain LNG), Europe’s largest LNG regasification terminal, from National Grid for an enterprise value of £1.5 billion ($2 billion).
Looking long term, LNG is expected to play an increasingly important role in the U.K. energy mix and is projected to meet nearly 60 percent of the United Kingdom’s gas demand by 2050, compared with 15 percent in 2024.
Located at the Isle of Grain, east of London, Grain LNG delivers vital energy security for the United Kingdom. It primarily provides LNG storage and regasification capacity to primarily strong investment-grade customers under long term, inflation-linked capacity contracts. Grain also offers additional services, such as ship reloading, transhipment and road-tanker loading. The terminal is undergoing an expansion of additional regasification capacity and storage capacity. Once this is completed, the facility w
