Enagás increases its stake in the GNL Quintero plant in Chile to 60.4%

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Enagás increases its stake in the GNL Quintero plant in Chile to 60.4%

Enagás, through its subsidiary Enagás Chile, has finalized the acquisition of 20% of the GNL Quintero regasification plant from the company Aprovisionadora Global de Energía (company spun off from Metrogas, the majority shareholder being Gas Natural Fenosa), for a total of US$197 million.

Through this transaction, which was announced on 30 June, Enagás has increased its holding in the plant to 60.4% and will globally consolidate GNL Quintero from 1 January 2017 as a result of the shareholders' agreement.

After the closure of this acquisition, Enagás Chile now has a direct holding in GNL Quintero of 40% and a 20.4% indirect stake through the company Terminal de Valparaíso. The share ownership of GNL Quintero is as follows: Enagás Chile, 40%; Terminal de Valparaíso, 40% (Enagás Chile, 51%, and Oman Oil Company, 49%); and the Chilean company ENAP, 20%.

The GNL Quintero regasification plant, situated in Quintero Bay, was the first LNG terminal in the southern hemisphere. It opened in 2009 and has been operating at full capacity since January 2011. It has a tanker docking facility, three storage tanks, three evaporators and a truck loading station. It is also planned to build a new 160,000 m3 LNG storage tank and to increase regasification capacity to 833,000 m3 (n)/h. Enagás has been a shareholder in GNL Quintero since 2012.

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