Enagas acquires Endesa’s stake in GNL Quintero

Spanish LNG terminal operator Enagas on Thursday said it has, through its unit, Enagas Chile, reached a deal to acquire the total Endesa Chile stake in GNL Quintero for US$200 million.

With the acquisition of Endesa’s 20 percent stake, Enagas would up its total stake in the plant to 40.4 percent, the company said in its statement.

Upon completion of the transaction, the GNL Quintero shareholders would be Terminal de Valparaiso, a joint venture by Enagas Chile and Oman Oil Company, with a 40 percent stake while Enagas Chile, ENAP and Metrogas all hold 20 percent stake each.

The regasification terminal, located in the Bay of Quintero, in operation since 2009 has three tanks with overall storage capacity of 334,000 cubic meters, a total sendout capacity of 625,000 cubic meters per hour and docking facilities for methane tankers for up to 265,000 cubic meters of LNG.

Enagas added that the terminal is also planning to expand with the construction of a third LNG storage tank with 160,000 cubic meters capacity and increase its regasification capacity to 833,000 cubic meters of natural gas per hour.