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.

British Gas owner Centrica and Energy Capital Partners are in talks to buy the Isle of Grain LNG terminal from National Grid in a deal valued at about 1.5 billion pounds ($2.03 billion), the Financial Times reported on Wednesday.