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Centrica Snaps Up Europe’s Largest Natural Gas Import Terminal as U.S. LNG Supply Expands

Natural Gas Intelligence · last updated

Centrica plc has reached an agreement with National Grid plc to buy the Grain LNG terminal in the UK, Europe’s largest import facility, for about $2 billion as the British energy company continues to expand its global LNG portfolio.

Grain LNG import terminal in the United Kingdom, featuring extensive industrial infrastructure with storage tanks, distillation towers, and interconnected pipelines under a clear blue sky.

In related news, Centrica on Friday said it has agreed to purchase natural gas from multi-basin independent Devon Energy Corp. The 10-year deal would provide Centrica 50,000 MMBtu/d starting in 2028. The amount is equivalent to five LNG cargoes a year, the trading giant noted. Volumes will be indexed to Europe’s Title Transfer Facility (TTF).

NGI data showed TTF futures for 2028 settled at $9.529/MMBtu on Thursday (Aug. 14).

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