Enagas Completes GNL Quintero Stake Acquisition, Chile

Enagás of Spain has completed the purchase from BG Group of 20% of the GNL Quintero regasification plant for liquid natural gas (LNG) in Chile for $176Mn, as agreed in April, having obtained all the required authorisations.

The GNL Quintero plant’s other shareholders are ENAP (Empresa Nacional de Petróleo de Chile – 20%), Endesa Chile (20%), Metrogas (20%) and BG Group (20%), all of which have considerable experience in the energy sector.

The acquisition by Enagás of a stake in GNL Quintero demonstrates the strategic commitment that the company is making in Chile. For Enagás, with over 40 years’ experience in the LNG industry, supporting and contributing to the development and future growth of this plant – essential for the security of the country’s energy supply – is a priority.

In June, the Chairman of Enagás, Antonio Llardén, visited Chile as part of the delegation of Spanish businesses that accompanied His Majesty the King of Spain. During his stay, Llardén had the opportunity to express to the Chilean Energy Minister, Jorge Bunster, the long-term commitment of Enagás to the country made through this investment decision.

The Chairman of Enagás is soon to visit Chile again, where institutional meetings, as well as informative meetings with the media, have been scheduled.

The regasification plant is in Quintero Bay in Chile. Commissioned since 2009, it commands a total storage capacity of approximately 330,000 m3, total regasification capacity of approximately 10 million m3/day and a delivery capacity of 1,250 m3 of LNG at the truck loading station. Approval was recently given to increase regasification capacity to 15 million m3/day. Enagás will support the development of the expansion project and others in the future with its experience and knowledge.

[mappress]
LNG World News Staff, September 14, 2012