Today, Grain LNG, the largest liquefied natural gas (LNG) terminal in Europe, has formally transitioned to new ownership, following the completion of its £1.5bn sale by National Grid to Centrica plc and Energy Capital Partners (ECP).
The handover marks the final step in the transaction announced earlier this year, with Grain LNG now officially jointly owned by Centrica, a renowned multinational energy company operating within the gas value chain, and ECP, a leading investment firm focused on the energy transition.
Located at Isle of Grain in Kent, the liquified natural gas (LNG) importation terminal is the largest LNG import terminal in Europe by tank capacity and one of the largest in the world. The facility is currently able to store and deliver 25% of the UK’s gas demand.
Under its new owners, Grain LNG will continue to operate the UK’s first modern LNG importation terminal and will remain focused on delivering stable and reliable energy to meet the needs of the UK market. Centrica and ECP will support the terminal’s current expansion works that will increase its capability to supply up to 33% of the UK’s gas demand.
Simon Culkin, Managing Director of Grain LNG, said, “It’s great to have secured ECP and Centrica as 50:50 investors in Grain LNG, both come with deep expertise and enthusiasm for the role Grain will play through the UK’s energy transition. We’re acutely aware of our strategic national importance to UK energy infrastructure and security of supply, and we’re confident that under this new ownership we will continue providing safe and reliable energy to our customers.”
