Enagás is to purchase BG Group’s 40% stake in the Quintero LNG regas terminal in Chile. The application is pending all relevant permits but will be paid in two (20%) instalments of € 136 million each. It is anticipated that Enagás will bring in another partner for the second tranche of payments leaving Enagás with 51% of the original 40% stake and the second partner in control of 49%.
The remaining shares in Quintero LNG are owned by ENAP (Empresa Nacional de Petroleo de Chile) (20%), Endesa Chile (20%) and Metrogas (Chile's largest gas distributor) (20%).
The Quintero LNG regasification terminal is located in Quintero Bay, Chile and has been in operation since 2011, the plant has a total storage capacity of 330, 000 m3 and a total regasification capacity of 3.4 billion m3/yr.
Written by Peter Farrell.