Business
Completion of Grain LNG acquisition
Centrica plc has completed its acquisition of the Grain LNG terminal in partnership with Energy Capital Partners for an enterprise value of £1.5 billion. Following £1.1 billion in new non-recourse project finance debt, Centrica's 50% equity investment amounts to approximately £200 million. This strategic acquisition is expected to deliver attractive returns and shift Centrica's earnings towards stable infrastructure assets, reinforcing the UK's energy security and supporting its clean energy transition. The company also highlighted its significant investments in Sizewell C and potential redevelopment of the Rough gas storage facility, contingent on supportive regulation from Ofgem. Disclaimer*
About this update from Centrica Plc
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 Enquiries: Centrica Investors and Analysts: email: [email protected] Media: email: [email protected] tel: +44 (0) 1784 843000 ECP Media: email: [email protected] Santander London Branch (Financial Adviser to Garden Bidco Limited) Brian O'Keeffe Conor Hennebry Martin Weltman tel: +44 (0) 20 7756 4034 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