REG - Centrica PLC - Completion of Grain LNG acquisition

CentricaAnnouncement

28/11/2025 12:00

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RNS Number : 4801J  Centrica PLC  28 November 2025

Centrica plc

28 November 2025

 

Completion of Grain LNG acquisition

Centrica plc (the "Company") is pleased to announce completion of its Grain
LNG acquisition(1) in partnership with Energy Capital Partners ("ECP") 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, Centrica plc, 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.

"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."

 

Notes:

1. As announced on 14(th) August 2025. Further details can be found at:

https://www.centrica.com/media/jlnerpqg/centrica-plc-investment-in-grain-lng.pdf
(https://www.centrica.com/media/jlnerpqg/centrica-plc-investment-in-grain-lng.pdf)

 

Enquiries:

 Centrica
 Investors and Analysts:                       email: ir@centrica.com (mailto:ir@centrica.com)
 Media:                                        email: media@centrica.com (mailto:media@centrica.com)

                                               tel: +44 (0) 1784 843000

 ECP
 Media:                                        email: ECP@fgsglobal.com (mailto:ECP@fgsglobal.com)

 Santander London Branch                       tel: +44 (0) 20 7756 4034

 (Financial Adviser to Garden Bidco Limited)

 Brian O'Keeffe

Conor Hennebry

Martin Weltman

 Slaughter and May is acting as legal adviser to Centrica. Latham & Watkins
 is acting (i) as legal adviser to ECP; and (ii) as legal adviser to Garden
 Bidco Limited as purchaser.

 

END

Centrica plc is listed on the London Stock Exchange (CNA)

Registered Office: Millstream, Maidenhead Road, Windsor, Berkshire SL4 5GD

Registered in England & Wales number: 3033654

Legal Entity Identifier number: E26EDV109X6EEPBKVH76

ISIN number: GB00B033F229

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