Centrica + ECP to acquire LNG import terminal in UK: British energy and services firm Centrica has partnered up with equity and credit firm Energy Capital Partners (ECP) to acquire National Grid Group ’s GBP 1.5 bn Isle of Grain LNG import terminal, according to a statement (pdf) released on Thursday. Each firm acquired 50% of the terminal, with Centrica’s equity investment totaling GBP 200 mn, and GBP 1.1 bn covered through a project-specific loan.

The Grain LNG terminal is capable of processing up to 20% of the UK’s gas demand, boasting a current regasification capacity of 21.7 bn cbm per year and a tank storage capacity of 1 mn cbm per year. The terminal is also undergoing expansions, with plans to add 5.3 bn cbm in regasification capacity and 200k cbm in storage capacity. It also boasts a robust pipeline of services contracts, suggesting a steady stream of income for the new owners. The terminal is 100% booked until 2029, over 70% booked until 2038, and over 50% booked until 2045.

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