British energy infrastructure operator National Grid is planning to divest the Grain LNG terminal in the UK.
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The move forms part of the company’s strategy to streamline its operations.
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Said to be the largest facility of its kind in Europe, the Grain LNG terminal is situated on the Isle of Grain in Kent.
When presenting its 2023/24 business year earnings, National Grid CEO John Pettigrew said: “Alongside our new five-year financial framework, we are also today further evolving our strategy to focus on networks and will therefore be streamlining our business as we announce our intention to sell Grain LNG, our UK LNG asset, and National Grid Renewables, our US onshore renewables business.”
However, British trade union UNISON said the National Grid’s decision could pose a risk to UK energy security.
UNISON energy head Donna Rowe-Merriman said: “This decision leaves UK energy security vulnerable. Any decision on the future of Grain LNG and National Grid Ventures must be part of a longer-term view in relation to energy policy and security. Any sale must be a political decision taking account of the impacts on the UK’s future energy security.
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By GlobalData“The UK Government must intervene immediately to ensure that no sale takes place before the general election.”
The import terminal is undergoing expansion and is poised to enhance its storage and delivery capabilities significantly.
Upon completion, the terminal will have the capacity to store and deliver enough gas to meet as much as a third of UK demand.
National Grid is also responsible for managing both power and electricity transmission networks across Britain.
Earlier this year, Venture Global and Grain LNG signed a terminal use agreement to enhance natural gas supply security in the UK.
The deal grants Venture Global access to three million tonnes per annum of LNG storage and regasification capacity at the Grain LNG terminal, starting in 2029.
