Grain LNG Initiates Auction for 9 Million Tonnes of Existing Capacity to Bolster Europe’s Energy Security

Grain LNG Initiates Auction for 9 Million Tonnes of Existing Capacity to Bolster Europe’s Energy Security

(IN BRIEF) Grain LNG, Europe’s largest liquefied natural gas (LNG) terminal, has launched an auction for 375 GWh/d (approximately 9 million tonnes per annum) of existing capacity. Running from September 14 to November 23, 2023, this initiative, comprising three capacity lots, comes in response to positive feedback from recent market consultations and Ofgem’s approval. Each lot includes 42 berthing slots, 200,000 m3 of storage, and 125 GWh/d (about 3 million tonnes per annum) of regasification capacity, available as early as January 2029. Designed to attract stakeholders interested in a significant share of a Northwest European terminal at reduced costs and with shorter contract durations compared to new construction projects, this offering capitalizes on Grain LNG’s existing capacity to minimize approval and construction-related delays. Simon Culkin, Importation Terminal Manager at Grain LNG, emphasized the terminal’s commitment to ensuring energy supply security and delivering efficient and flexible LNG solutions in a geopolitically influenced global energy market. Companies keen to participate in the auction can find detailed product and contract information on the www.grainlng.com website.

(PRESS RELEASE) WARWICK, 15-Sep-2023 — /EuropaWire/ — Grain LNG, has used the positive feedback received from the recent market consultation exercise and, following Ofgem approval, is offering three lots of capacity. Each lot will consist of 42 berthing slots, 200,000 m3 of storage and 125GWh/d (approx. 3 mtpa) of regasification capacity from as early as January 2029.

This product is specifically designed for parties who wish to acquire a substantial stake in a major terminal in Northwest Europe, at a reduced cost and with shorter contract lengths when compared to new-build projects. As the terminal’s capacity already exists, parties involved will not be subjected to the FID approvals or potential delays that can arise from construction issues commonly associated with new build terminals.

Simon Culkin, Importation Terminal Manager at Grain LNG, said: “We continue to be encouraged by the high level of interest shown by potential customers at a time when world energy markets are influenced by the geopolitical situation. It has allowed us to engage and shape our offering to best meet customer’s needs, whilst optimising the best possible access to this strategically important asset.

“With the launch of this auction, Grain LNG reaffirms its dedication to the security of supply to the UK and Europe and its commitment to delivering reliable, efficient, and flexible LNG solutions.”

Companies interested in participating in the auction should visit the www.grainlng.com website, where detailed information of the product on offer and the contract terms can be found.

Media Contact:

Ben Davis
Phone: 07971 539 999
Email: ben.davis@nationalgrid.com

SOURCE: National Grid