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.
Sept. 4, 2013

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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