British energy infrastructure operator National Grid said on May 23 it is looking to sell its Grain LNG terminal in Britain, Europe's largest such facility, in a bid to streamline operations.
"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," the company said when when presenting its 2023/24 business year earnings.
Located on the Isle of Grain in Kent, the import terminal is currently being expanded and will soon have capacity to store and deliver enough gas to meet its target of about a third of the U.K.'s gas demand.
LNG has become an important source of gas supplies to Europe, helping to replace volumes of Russian pipeline gas lost in the wake of the war in Ukraine and damage to the Nord Stream pipeline in the Baltic Sea.
National Grid operates both power and electricity transmission networks in Britain.
Recommended Reading
Elk Range Acquires Permian, Eagle Ford Minerals and Royalties
2025-01-29 - Elk Range Royalties is purchasing the mineral and royalty interests of Newton Financial Corp., Concord Oil Co. and Mission Oil Co.
On The Market This Week (Jan. 20, 2025)
2025-01-24 - Here is a roundup of marketed oil and gas interests in the Delaware Basin, Midcontinent and Bakken from select sellers.
IOG Resources II Buys Non-Op Utica Shale Interests
2025-02-26 - IOG Resources II is expanding in Appalachia with an acquisition of Utica working interests in eastern Ohio.
Matador Exits Eagle Ford Shale, Preps for ‘Turbulent Times’
2025-04-04 - Matador Resources Co. divested its Eagle Ford Shale assets “in preparation for turbulent times” but doesn’t expect tariffs to affect well costs until the second half of 2025.
ConocoPhillips Shopping Marathon’s Anadarko Assets for $1B— Source
2025-04-02 - ConocoPhillips is marketing Anadarko Basin assets it picked up through a $22.5 billion acquisition of Marathon Oil last year, Hart Energy has learned.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.