Shares surge after British Gas owner's bumper energy deal

SHARES in Centrica, the owner of British Gas, have risen after it joined forces with Energy Capital Partners to snap up Europe’s largest liquefied natural gas terminal for £1.5billion.

- By Ali Lyon

Centrica hailed its bumper acquisition of the National Grid’s Isle of Grain LNG, which stores and processes natural gas at its site in Kent, as helping “support the UK’s energy security for many decades to come”.

LNG is playing an increasingly important role in the UK's energy grid as the country seeks to transition away from more carbon intensive hydrocarbons to a mix of gas, renewables and nuclear power.