Grain LNG Likely to Recontract Capacity Before National Grid Stake Sale

UK’s National Grid is looking to sell its 100% stake in the Grain LNG import terminal according to Energy Intelligence sources.

• A formal sales process, expected in the autumn, is in line with National Grid’s withdrawal from the gas market with infrastructure funds likely bidders for the stake.
• Grain LNG has a nominal regasification capacity of 14.3m tons and 1m cubic meters of storage capacity increasing to 1.2m cubic meters from 2025.
• Grain LNG is likely to finalize a capacity auction before a sale with around 9m tons of existing contracts expiring by the end of the decade.
• Grain LNG launched a market consultation for three lots of approximately 3m tons of regas capacity, 42 berthing slots and 200k cubic meters of LNG storage from as early as 2029. Grain LNG is looking for bids in October with results in early December.
• Capacity is being offered under 5 year and 10 year deals or under a term contract ending on Jul. 14, 2045.