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.
About the Author
Bob Tippee
Editor
Bob Tippee has been chief editor of Oil & Gas Journal since January 1999 and a member of the Journal staff since October 1977. Before joining the magazine, he worked as a reporter at the Tulsa World and served for four years as an officer in the US Air Force. A native of St. Louis, he holds a degree in journalism from the University of Tulsa.