Enagas has released a statement claiming that, through its subsidiary, Enagas Chile, it has signed an agreement to acquire the total share of Endesa Chile in GNL Quintero, SA (20%), amounting to US$200 million. This will increase Enagas Chile’s overall stake in the plant to 40.4%. Nevertheless, the acquisition is still subject to the possible exercise of the right of pre-emption of other partners.
Once the acquisition has been finalised, Terminal of Valparaiso will hold a 40% stake (participated by 51% by Enagas Chile and 49% by Oman Oil Co.), Enagas Chile will hold a 20% stake, and Metrogas ENAP will hold a 20% stake.
The regasification facility is located in Quintero Bay, Chile, and has a total storage capacity of 334 000 m3. This is expected to increase by a further 160 000 m3 with the addition of a third LNG storage tank.
POSCO E&C has announced that it has been awarded a US$650 million contract for the construction of a combined cycle power plant and LNG terminal in Panama.
As countries submit their climate change commitments, Chris Down and Claire Wilby, Norton Rose Fullbright LLP, UK, look at why LNG is being considered as a cleaner, cheaper alternative to coal.