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.
