Grain LNG launches market consultation for existing capacity
Grain LNG, the largest liquefied natural gas (LNG) terminal in Europe, is pleased to announce the launch of a market consultation for the auction of 375 Gwh/d (approx. 9 mtpa) of existing capacity. The initial consultation phase for the Auction of Existing Capacity will commence on 14 June and run until 26 July.
GLNG has used the positive feedback received from the recent ‘Expression of Interest’ exercise and subsequent market engagement to offer three lots of capacity:
- Each lot will be entitled to 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 are really pleased with the high level of interest shown by the market at a time of significant geo-political influence on our energy markets. It has allowed us to engage with potential customers and shape our offering to best meet their needs, whilst optimising access to this strategic asset. “
The consultation period will enable participants to contribute valuable feedback on various aspects, including operational requirements, infrastructure enhancements, and environmental considerations. Grain LNG values the expertise and engagement of industry stakeholders, understanding that their input is essential for optimising the existing capacity product and ensuring alignment with market needs.
Industry professionals interested in participating in the market consultation are encouraged to visit the www.grainlng.com website, where detailed information of the product on offer and the consultation process can be found. Grain LNG welcomes comprehensive feedback and looks forward to the insights provided by the industry.
With the launch of this market consultation, 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.
