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Enagás increases its shareholding in two regasification plants

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LNG Industry,

Enagás has announced that it has agreed to increase its shareholding in the Sagunto and Quintero LNG regasification plants to 72.5% and 60.4%, respectively.

Acting via its subsidiary – Enagás Transporte – Enagás will acquire the total shareholding (42.5% through its 85% shareholding in Infraestructura de Gas, S.A.) of Unión Fenosa Gas in the Sagunto facility for €106 million. This agreement is subject to a number of conditions, including regulatory approval. It will increase Enagás’ total shareholding in the facility to 72.5%

Acting via its Enagás Chile subsidiary, Enagás will acquire the entire shareholding of Aprovisionadora Global de Energía in GNL Quintero (20%) for US$200 million. Aprovisionadora Global de Energía is a spin-off of Metrogas and one in which Gas Natural Fenosa holds a majority. A deal was originally reached on 9 June for the acquisition of an additional 20% of GNL Quintero from Endesa Chile. Once both of these deals have been completed, Enagás Chile will own an overall shareholding in the facility of 60.4%.

Edited from press release by David Rowlands

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