£1.5 billion enables UK-US pair to get their hands on Europe’s giant LNG terminal

December 1, 2025, by Melisa Cavcic

UK-based energy player Centrica and U.S. investment firm Energy Capital Partners (ECP), part of Bridgeport Group, have brought into their fold a liquefied natural gas (LNG) terminal in Kent County, United Kingdom.

Following the initial acquisition step in August 2025, the duo has completed the acquisition of the Grain LNG terminal from National Grid for an enterprise value of £1.5 billion. After taking into account £1.1 billion of new non-recourse project finance debt, Centrica’s 50% share of the equity investment is approximately £200 million.

Chris O’Shea, Group Chief Executive of Centrica, commented: “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.”

The UK firm portrays the terminal as Europe’s largest LNG regasification facility, with a capacity of 15 million tonnes of LNG a year. Located on the UK’s Isle of Grain, the terminal features unloading infrastructure, regasification equipment, and truck-loading facilities.

This asset has two jetties: the first one is capable of unloading LNG tankers with a 70,000–217,000 cubic meters (cbm) cargo capacity (QFlex), and the second carriers from 125,000 cbm to 266,000 cbm cargo capacity (QMax).

The terminal was undergoing expansion last year to store and deliver enough gas to meet up to 33% of the UK’s gas demand, aiming for 1.2 million tonnes of tank space in 2025 – ten years after the start of operations – compared to the 1 million at the time.

O’Shea added: “Our multi-billion-pound investments in both Sizewell C and Grain LNG demonstrate our willingness to invest in the UK when regulation is supportive. We hope to further underpin the UK’s energy security by committing several billion pounds to redeveloping the country’s largest gas storage facility, Rough, subject to the right support model.

“To ensure the UK remains an attractive destination for investment, we need forward-looking regulation from Ofgem that delivers a fit-for-purpose framework and actively fosters economic growth.”