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LONDON - Centrica plc announced on Friday it has completed its acquisition of the Grain LNG terminal from National Grid in partnership with Energy Capital Partners (ECP), in a deal with an enterprise value of £1.5 billion.
The transaction, first announced on August 14, 2025, was structured with £1.1 billion of new non-recourse project finance debt, with Centrica investing approximately £200 million for its 50% equity stake in the facility.
The Isle of Grain terminal, located in Kent, is a strategic liquefied natural gas import facility that supports the UK’s energy security infrastructure.
"Having a reliable, constant supply of gas is critical to both the UK’s energy security and its journey to clean energy," said Chris O’Shea, Group Chief Executive of Centrica, in the press release statement.
O’Shea added that the investment "delivers attractive returns" and continues the company’s strategic shift toward "stable, predictable infrastructure earnings."
The acquisition represents part of Centrica’s broader investment strategy in UK energy infrastructure, which also includes its involvement in the Sizewell C nuclear project.
The company also indicated in its statement that it is considering further investment in redeveloping the Rough gas storage facility, which it described as the UK’s largest, subject to appropriate regulatory support.
The Grain LNG terminal acquisition has now been finalized following regulatory approvals and other customary closing conditions.
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