EIG, an institutional investor to the global energy and infrastructure sectors, and Fluxys, an energy infrastructure company, have announced that they will jointly acquire an 80% equity stake in GNL Quintero S.A. (Quintero), an LNG regasification terminal in Chile, from Enagas Chile SpA and affiliates of OMERS Infrastructure. Terms of the transaction were not disclosed.
Quintero is a key energy infrastructure business supporting Chile’s decarbonisation strategy with a bridging fuel that allows for the reconciliation of economic growth with the uptake of renewables and the phasing out of coal. Operational since 2009, Quintero is one of the largest terminals for receiving and unloading LNG in Chile, as well as for its storage and regasification capacities. The terminal benefits from its strategic location in Quintero Bay, supplying a diversified base of customers in central Chile across residential, commercial, industrial, transportation, and power generation sectors. The terminal owns 75% of the country’s LNG regasification capacity and in 2021, 67% of the total natural gas imports (both LNG and pipeline imports) arrived in Chile through this strategic asset. With a daily regasification capacity of 15 million m3, an LNG storage capacity of 334 000 m3 and 2500 m3/d of truck loading capacity, the terminal is a reliable supplier of natural gas that contributes to Chile’s energy diversification and security.
The transaction is expected to close in 2H22, subject to customary closing conditions, including any required merger control and related regulatory approvals.
Citigroup Global Markets Inc. acted as financial advisor to EIG and Fluxys in connection with the transaction. White & Case LLP served as EIG’s legal advisor and Linklaters LLP served as Fluxys’ legal advisor.
Read the article online at: https://www.lngindustry.com/regasification/28032022/eig-and-fluxys-partner-on-lng-infrastructure-in-chile/
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