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Centrica PLC on Friday said it has completed the acquisition of National Grid PLC’s Grain liquefied natural gas business, in partnership with Energy Capital Partners LP, for an enterprise value of £1.5 billion. Centrica, the Berkshire, England-based energy provider and owner of British Gas, said that after taking into account £1.1 billion of new non-recourse project finance debt, its 50% share of the equity investment is approximately £200 million. The acquisition is in partnership with Energy Capital Partners, a specialist investor in renewable energy infrastructure. The Isle of Grain gas import terminal, on the Thames estuary in Kent, is the largest liquefied 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. National Grid is a London-based electricity and gas utility, which operates the UK’s electricity transmission network. The company said in August that the disposal will allow it to focus on its electricity networks in the UK and US, as part of the streamlining plans it announced last year. Centrica’s Chief Executive Chris O’Shea said: ‘Having a reliable, constant supply of gas is critical to both the UK’s energy security and its journey to clean energy. So, we are thrilled to complete the acquisition of the Isle of Grain terminal alongside our partner, ECP. This investment delivers attractive returns and continues Centrica’s pivot towards stable, predictable infrastructure earnings. We look forward to working closely with the Grain LNG team to unlock the full value of this asset for customers and the country.’ On Friday afternoon in London, shares in Centrica fell 0.1% to 170.55 pence, while National Grid shares fell 0.1% to 1,142.50p each. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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