The Dutch storage terminal owner VTTI (Vitol, IFM, and ADNOC) has entered into an agreement to acquire Ancala’s 50% shareholding of the 7.6 bcm/year Dragon LNG terminal in the United Kingdom. The regasification terminal is currently owned by Shell 50% and Ancala 50% and the transaction is expected to close during the third quarter of 2024, once all customary conditions have been settled.
Dragon LNG is the owner of one of three LNG terminals in the UK. Located near Milford Haven in Wales, the terminal consists of LNG receiving, storage, reliquefication, regasification and send-out facilities. The terminal can achieve maximum gas send out to the UK national transmission system of up to 9 bcm, supplying approximately 10% of the UK’s annual gas demand.
The UK has been a net importer of gas since 2004. Imports increased by 10% in 2022 to 56.5 bcm, with LNG accounting for almost half of it with 25 bcm. The country has three operating LNG terminals which are Grain LNG (19.9 bcm/year), South Hook (21.1 bcm/year), and Dragon LNG (7.6 bcm/year).
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