British multinational energy group Centrica has bought the UK’s Isle of Grain liquefied natural gas [LNG] terminal in partnership with Energy Capital Partners from National Grid group for £1.5bn.
The deal not only provides Centrica with a greater footprint in the rapidly growing LNG industry but also provides opportunities in areas such as hydrogen and ammonia.
After taking into account approximately £1.1bn of new non-recourse project finance debt, Centrica’s 50% share of the equity investment is approximately £200m.
Grain LNG delivers vital energy security for the UK, providing critical LNG import/export, regasification and rapid response gas storage capacity to balance the energy system.
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