Enagas increases stake in Chilean LNG terminal

Spain’s natural gas system operator Enagas has increased its stake in the Quintero LNG regasification terminal in Chile by buying a second 20% tranche from the BG Group, the company reported.

At the same time, Enagas has brought in Oman Oil Co. to hold 49% of the company Terminal de Valparaiso in which Enagas is the main shareholder. Enagas incorporated Terminal de Valparaíso to buy the first tranche of 20%, which was completed in September 2012.

The current deal follows an agreement signed in April 2012 by Enagas to acquire in two tranches BG Group’s 40% shareholding in GNL Quintero. Acquisition of the remaining 20% by Terminal de Valparaíso required an investment of $176 million.

Shareholders in GNL Quintero terminal now stand at Terminal de Valparaiso 40%, ENAP 20%, Endesa Chile 20%, and Metrogas 20%.

The terminal, in Chile’s Quintero Bay, began operating in 2009 with total storage capacity of about 330,000 cu m, total regasification capacity of 10 million cu m/day, and LNG delivery capacity of 1,250 cu m at the truck loading station.

In addition, work is currently under way to increase regasification capacity to 15 million cu m/day and tank truck loading capacity to 2,500 cu m of LNG.

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