Power company Endesa of Chile and LNG player BG Group of the UK signed a deal settling their dispute over volumes and prices of an LNG supply contract, Endesa revealed in a statement.
BG before said that production troubles in Egypt could affect its supplies of LNG to Endesa Chile.
The LNG deal, which will take from four to six weeks to firm up, includes the revision of prices for base quantities and additional quantities, the strengthening of supply security clauses and aspects of the contract that tend to be more flexible, according to Endesa.
BG Group has a 20% ownership of the GNL Quintero regasification plant in Chile, a 2.5 mtpa LNG import terminal located in Quintero Bay, 110 kilometres from Santiago.
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LNG World News Staff, June 5, 2013; Image: GNL Quintero