UK's National Grid seeks buyer for Europe's biggest LNG terminal

(Reuters) - British energy infrastructure operator National Grid said on Thursday it is looking to sell its Grain liquefied natural gas (LNG) terminal in Britain, Europe's largest such facility, in a bid to streamline operations.

"We are also today further evolving our strategy to focus on networks and will therefore be streamlining our business as we announce our intention to sell Grain LNG," the company said when when presenting its 2023/24 business year earnings.

Located on the Isle of Grain in Kent, the import terminal is currently being expanded and will soon have capacity to store and deliver enough gas to meet its target of about a third of the UK's gas demand.

LNG has become an important source of gas supplies to Europe, helping to replace volumes of Russian pipeline gas lost in the wake of the war in Ukraine and damage to the Nord Stream pipeline in the Baltic Sea.

National Grid operates both power and electricity transmission networks in Britain.

(Reporting by Nora Buli in Oslo; editing by Nina Chestney)