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

LNG exports’ immediate geopolitical impacts limited, senators told

03/26/2014 Direct geopolitical impacts from the US authorizing LNG exports more quickly would be limited, witnesses told a US Senate committee. But global mar...

DOE approves LNG exports to non-FTA countries from Oregon project

03/24/2014 The US Department of Energy conditionally approved Jordan Cove Energy Project LP’s application to export LNG through its proposed terminal on Orego...

INGAA Foundation forecasts oil, gas infrastructure outlays to 2035

03/24/2014 An estimated $640.9 billion, or an average $29.1 billion/year, will need to be spent on US and Canadian midstream crude oil, natural gas, and natur...

Export short-sightedness

03/24/2014 Opposition by specific refiners to US exports of crude oil should surprise no one. The export ban suppresses the price of domestically produced lig...

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