British Gas owner buys £1.5bn gas terminal in big bet on fossil fuel reliance
by Jillian Ambrose Energy correspondent from Environment | The Guardian on (#6ZASS)
Deal for Europe's biggest facility for LNG imports comes as overall UK gas demand fell sharply last year
The owner of British Gas has placed a 1.5bn bet on the UK's future reliance on fossil fuel imports after striking a deal to buy Europe's biggest gas import terminal.
Centrica plans to partner with a US private equity firm to acquire the Isle of Grain terminal in Kent, which can import 15m tonnes of liquefied natural gas a year, even after Britain's gas demand fell last year to its lowest level since the early 1990s.
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