Grain LNG, located on the Isle of Grain in Kent, currently has the capacity to store and deliver enough gas to meet at least 25% of the UK’s demand.
It is the largest terminal in Europe and the eighth largest in the world by tank capacity, with a site that spans more than 600 acres in total.
The agreement marks the conclusion of Grain LNG’s competitive ‘Open Season’ process, which kicked off in November 2019.
Jon Butterworth, Managing Director of National Grid Ventures added: “Today is an important day for UK gas security, for Grain LNG and for the community around the Isle of Grain. LNG imports play a critical role in making sure the UK has the gas it needs, when it needs it.
“This agreement ensures that Grain will continue to offer the UK a flexible and reliable supply of gas to complement the growth of intermittent renewable generation. It also secures the future of a facility that is a significant contributor to the economy on the Isle of Grain. I look forward to working with QTL in the coming years and to continuing to operate a world-class asset that market participants and UK consumers can rely on.”