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Centrica–ECP JV to buy National Grid’s Isle of Grain LNG terminal for £1.5bn; Slaughter and May, Latham & Watkins and Herbert Smith Freehills advising; NSIA 2021 approval required

Published on: 15 August 2025

Published by a Law360 reporter
Legal News
Article summary

Centrica Plc and Energy Capital Partners (ECP) announced that Garden Bidco — a jointly owned vehicle — is set to purchase the Isle of Grain LNG terminal on Kent’s coastline. The purchasers said the transaction represents a chance to invest in an ever more important source of energy for the UK. Centrica and ECP will each commit £200m for a 50% holding in the LNG facility east of London, once £1.1bn of project finance debt is taken into account. Slaughter and May is serving as Centrica’s legal adviser; the company owns British Gas and is a constituent of London’s blue‑chip FTSE 100. The firm’s team is led by London corporate partners Robert Innes and Natalie Cook. Latham & Watkins LLP is advising ECP, which forms part of global private asset investor Bridgepoint Group...

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