Grain LNG comprises two National Grid subsidiaries which own and operate the U.K.’s largest liquefied natural gas import terminal under-long term contracts.

The enterprise value of the transaction is £1.5bn ($2bn), with Centrica's equity investment amounting to approximately £200m for a 50% share.

National Grid has agreed to sell its Grain LNG terminal near London to Centrica and private equity firm Energy Capital Partners for around $2.04 billion. Why it matters: Grain LNG is Europe's largest liquefied natural gas import terminal,