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Enagas to acquire further stake in Chilean regasification facility

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LNG Industry,

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.

Edited from press release by David Rowlands

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