Aug 14 (Reuters) - British Gas owner Centrica (CNA.L) , opens new tab said on Thursday it will be jointly buying National Grid's (NG.L) , opens new tab Grain LNG terminal with U.S.-based infrastructure investor Energy Capital Partners for an enterprise value of about 1.5 billion pounds ($2.04 billion).

The Isle of Grain LNG terminal, owned and operated by a National Grid subsidiary, is located on the Isle of Grain in Kent, England. It is the largest LNG import terminal in Europe by tank capacity and one of the largest in the world.

Sign up here.

Centrica said its 50% share of the equity investment in the terminal was about 200 million pounds, with roughly 1.1 billion pounds of the total deal value being debt related to the project.

The agreement, first reported by the Financial Times on Wednesday, follows Centrica's bid in July to hold a 15% stake in the planned Sizewell C nuclear project.

Hong Kong's CK Infrastructure Holdings had been among the bidders for the LNG terminal but withdrew earlier this month, Bloomberg News reported this week.

Subject to regulatory and national security approvals, the LNG transaction is expected to close in the fourth quarter of this year, Centrica said.

($1 = 0.7365 pounds)

https://www.reuters.com/business/energy/centrica-energy-capital-partners-buy-national-grids-lng-terminal-2-billion-2025-08-14/