Gas Natural Fenosa ups Metrogas stake

Spanish LNG operator Gas Natural Fenosa said that its Chilean unit closed a deal to buy 8.33% of Metrogas for 116 million euros from the gas group Trigas.

Following the acqusition, Gas Natural Fenosa now owns a 60.17% stake in Metrogas.

Metrogas is the main gas distributor in Chile and also holds a 20% share in the Quintero LNG terminal located about 110 kilometres northwest of Santiago.

The board of directors of Metrogas will comprise five members appointed by Gasco, four by Copec and one appointed until now by Trigas who will subsequently be appointed by GNF Chile.

LNG World News Staff; Image: GNL Quintero