British Gas-owner Centrica is buying one of the biggest liquefied natural gas (LNG) facilities in the UK for £1.7bn, extending the firm's control of the country's energy supplies. National Grid is selling Grain LNG to Centrica and private equity firm Energy Capital Partners to allow it to focus on its electricity and gas networks.

Shares in Centrica, the FTSE 100 owner of British Gas, have jumped after it joined forces with Energy Capital Partners (ECP) to snap up Europe’s largest liquefied natural gas (LNG) terminal for £1.5bn In a statement issued to the London Stock Exchange,

Centrica and Energy Capital Partners have acquired the UK’s largest LNG import terminal, Grain LNG, from National Grid for $2 billion, bolstering Centrica's critical energy infrastructure portfolio.