Ancala Partners acquires 50% interest in Dragon LNG terminal

Related Asset Managers

Ancala Partners has acquired a 50% interest in Dragon LNG, a liquefied natural gas (LNG) regasification terminal in Milford Haven, Wales.

The stake was sold for undisclosed amount by Petronas LNG, a subsidiary of Petroliam Nasional Berhad.

Dragon LNG is one of three LNG regasification terminals in the UK. The terminal has a gas send-out rate to the UK’s National Transmission System of up to 9bn cubic metres per annum.

Facilities at the terminal were recently enhanced through commissioning of a reliquification plant.

Petronas will continue to be a customer of Dragon LNG as a counterparty to a long-term throughput agreement with the terminal.

Lee Mellor, partner at Ancala, said: “Dragon LNG is well placed to benefit from reducing UK gas storage capacity and maturing North Sea gas production.

“With revenues underpinned by a long-term availability-based throughput agreement with Shell and Petronas, the transaction represents an attractive addition to our portfolio and expands our midstream infrastructure activities.”

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2570

    Asset class: Direct Real Estate.
    Asset region: Europe excluding Switzerland.
    Size: 150m.
    Closing date: 2019-10-30.

Begin Your Search Now