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The FT reports that Centrica is the frontrunner in the $2 billion deal to purchase National Grid's Liquefied Natural Gas terminal.

The Financial Times reported that British Gas owner Centrica, and Energy Capital Partners were in negotiations to purchase the Isle of Grain LNG Terminal from National Grid for a price of about 1.5 billion pounds (2.03 billion dollars).

National Grid, Energy Capital and Centrica have not responded to requests for comment.

National Grid, the company that owns and operates Britain’s high-voltage transmission network of electricity, announced last year that it was looking to sell its assets.

Grain LNG terminal

As part of its efforts for a more efficient operation,, Europe's biggest such facility.

FT reported that a deal may be announced soon.

Centrica reported in July that it had signed a deal to purchase a 15% stake in Britain's newest nuclear project, Sizewell C.

Drop in the first-half profits.

Bloomberg News reported that Hong Kong's CK Infrastructure Holdings had been among those interested in the terminal. However, it has reportedly withdrawn its interest, Bloomberg News said earlier this month.

The LNG is a major source of gas in Europe, particularly after the conflict between Russia and Ukraine. Also, the sanctions imposed by the West on Russia have disrupted the energy markets. The resultant price hike continues to impact British consumers.

(source: Reuters)