Enagas Reaches a Deal to Increase its Stake in GNL Quintero Terminal to 40.4%

Source: www.gulfoilandgas.com 6/9/2016, Location: South America

Enagas, through its subsidiary company Enagas Chile, has reached a deal to acquire the total Endesa Chile stake in GNL Quintero, S.A. (20%) for 200 million dollars.

This acquisition, which is subject to possible pre-emptive acquisition rights held by other shareholders, would give Enagas Chile a total stake in the plant of 40.4%.

Once the operation is complete, the GNL Quintero shareholders would be as follows: Terminal de Valparaiso (51% Enagas Chile and 49% Oman Oil Company) 40%, Enagas Chile 20%, ENAP 20% and Metrogas 20%.

The regasification terminal, located in the Bay of Quintero, has been in operation since 2009, and Enagas has been a stakeholder since 2012. It has 3 tanks with overall storage capacity of 334,000 m3, a total emission capacity of 625,000 m3 (n)/h and docking facilities for methane tankers for up to 265,000 m3 of LNG. The terminal is also planning to expand with the construction of a third LNG storage tank with 160,000 m3 capacity and increase its regasification capacity to 833,000 m3 (n)/h.

Commitment to Chile and Latin America

For Enagas, the future development and growth of the GNL Quintero terminal is a priority, as it is a fundamental infrastructure for the security of energy supply in Chile. This deal enables Enagas to consolidate its position and reinforces its long-term commitment to the country.

The company is also present in Mexico and Peru. In Mexico, the company holds a stake in the TLA Altamira regasification terminal, and has set up, as part of the contractor consortium, two strategic infrastructures: the Morelos gas pipeline and the compression station at Soto La Marina.

In Peru, Enagas holds a 25.98% stake in Transportadora de Gas del Peru (TgP) and 30% of Compania Operadora de Gas del Amazonas (Coga), the company which operates and maintains TgP's transmission system. It is also part of the contractor consortium for the construction of the largest energy infrastructure in Latin America in recent years: Gasoducto Sur Peruano, measuring 1,134 km in length, work on which began in May 2015.

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Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Related Articles: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

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