Dragon LNG

Dragon LNG is a regasification terminal at Waterston, Milford Haven in Pembrokeshire, Wales. It is co-owned by Shell UK Ltd (50%) and VTTI (50%), following VTTI's acquisition of Ancala's stake in August 2024. The terminal has a nameplate regasification capacity of 5.6 mtpa (approximately 9 bcm per year) and can supply roughly 10% of UK annual gas demand via the National Transmission System. Its two 160,000 m³ LNG storage tanks and two jetties can receive up to 96 cargoes per year.

Dragon LNG was built at a cost of approximately £250 million and became operational in July 2009, sharing Milford Haven's deep-water estuary with the much larger South Hook LNG terminal. The change in ownership from Ancala to VTTI (a terminal infrastructure company jointly backed by IFM Investors, ADNOC, and Vitol) in 2024 brought a more commercially active infrastructure investor into the partnership alongside Shell. Dragon LNG has also received planning approval for wind turbines at its Waterston site, targeting renewable generation by late 2026, and is participating in the Milford Haven CO2 project with RWE to ADD carbon capture to the adjacent Pembroke power station.

Dragon LNG operates as the secondary LNG terminal at Milford Haven. Its smaller throughput relative to South Hook makes it more exposed to market underutilisation in periods of low LNG demand, but its jetty and storage flexibility give it value for smaller or shorter-term cargo arrangements. The terminal's role in UK gas security is complementary to South Hook's Qatari anchor supply.