Enagas buying stake in Chile LNG terminal

By OGJ editors

Enagas, Spain’s gas-network operator, has agreed to acquire BG Group’s 40% interest in GNL Quintero SA, operator of an LNG terminal in Chile, for as much as $352 million.

The stock-purchase agreement will include two tranches of $176 million each, the second of which will involve a buying partner. At conclusion of the acquisition, Enagas will own 51% of the acquired stake and the partner, 49%.

The terminal, in Quintero Bay, has total storage capacity of 330,000 cu m and regasification capacity of 3.4 billion cu m/year.

Other partners, all based in Chile with 20% interests each, are ENAP, Endesa Chile, and Metrogas.

Enagas facilities in Spain include nearly 10,000 km of high-pressure gas pipeline, two underground gas storage facilities, and three regasification plants at Barcelona, Cartagena, and Huelva.

The company also owns 40% of a regas plant in Bilbao and 40% of the Altamira terminal in Mexico.

Related Articles

ETP unit gets FERC approval for gas exports to Mexico

03/21/2014 Energy Transfer Partners LP unit Houston Pipe Line Co. LP (HLPC) has received approval from the US Federal Energy Regulatory Commission to build a ...

Millennium Pipeline appoints president

03/20/2014 Millennium Pipeline Co. LLC has selected Joseph Shields as its president. He succeeds Rocco D’Alessandro, who held the position beginning in May 20...

Shah Deniz II, South Caucasus Pipeline contracts awarded

03/20/2014 The Shah Deniz and South Caucasus Pipeline consortia awarded project management and construction contracts for the development of Shah Deniz Stage ...

MARKET WATCH: NYMEX crude prices rise on Seaway pipeline expansion news

03/19/2014 Crude oil futures prices rose on the New York market Mar. 18 after Enterprise Products Partners LP told analysts and investors that an expanded Sea...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected