13th Aug 2025 20:08
(Alliance News) - Centrica PLC and Energy Capital Partners are in exclusive talks to buy the UK's largest liquefied natural gas import terminal in a roughly GBP1.5 billion deal from its owner National Grid PLC, the Financial Times reported Monday.
Berkshire, England-based Centrica, which owns British Gas, is in negotiations to buy the Isle of Grain terminal, which National Grid is selling in order to focus on its core electricity networks, according to FT sources.
National Grid is a British multinational electricity and gas utility company headquartered in London, England.
Centrica has teamed up with New Jersey-based Energy Capital Partners Management LP, a major investor in renewable energy, the FT said.
A deal could be announced shortly, handing control of one of Britain's main strategic energy assets to one of its largest household energy suppliers, the FT said.
Centrica already owns the Rough gas storage site off the coast of Yorkshire, and has recently agreed to take a 15% stake in the Sizewell C nuclear power plant being built in Suffolk.
The Isle of Grain gas import terminal, on the Thames estuary in Kent, is the largest liquified natural gas import terminal in Europe with capacity to process 15 million tonnes per year of gas, or about 20% of the UK’s demand.
Shares in Centrica closed down 0.6% at 161.75 pence each in London on Wednesday. National Grid ended flat at 1,034.00p.
By Jeremy Cutler, Alliance News reporter
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