Repsol of Spain has agreed to sells its 10% interest in the Transportadora de Gas del Peru pipeline (TGP) to Madrid-based Enagas for a sum of US$ 219 million, a statement issued on Friday said.
The TGP transports natural gas and natural gas liquids from the Camisea Gas Project, located in central Peru to the city of Lima, as well as to the Peru LNG project, South America’s first liquefied natural gas (LNG) plant, responsible for liquefaction, situated in Pampa Melchorita, approximately 170 km from the capital.
The Peru LNG project has a production capacity of 4.4 million tpa of LNG and holds two storage tanks with 130 000 m3 capacities.
The agreement comes as Repsol actuates the sale of LNG assets. Production delays in Libya rendered a decline in the firm’s third net quarter profits by 48%.The transaction will completed in the following months, Repsol said.
Edited from various sources by Ted Monroe