Enagás signs an agreement to raise stake in Transportadora de Gas del Perú (TgP) by 4.34%

Enagás has reached an agreement to acquire 3.94% of Transportadora de Gas del Perú (TgP) from SK Innovation CO, LTD and 0.40% from Corporación Financiera de Inversiones (CFI), for a total amount of US$97 million.

Following this transaction Enagás will become TgP's second largest shareholder with a 24.34% stake.

TgP, which commenced commercial operations in 2004, transports most of Peru's natural gas and condensates. It has a 729-km gas pipeline which connects the Camisea gas fields with the Lurín city gate, and a 557-km polyduct which carries natural gas liquids from the Camisea gas fields to the Pisco fractioning plant.

TgP is also currently investing in gas projects in Peru which are already being developed so as to increase its natural gas transmission capacity.

Enagás has been present in Peru since 2014 when it acquired a 20% stake in TgP and 30% of Compañía Operadora de Gas del Amazonas (Coga), the company which operates and maintains TgP's transmission system.

Yestaerday we reported that the consortium composed by Enagás (25%) and Odebrecht (75%) were close to rise project financing for the South Peru Gas Pipeline. The project involves the construction and subsequent operation and maintenance of a 1,000-km-long gas pipeline for a period of 34 years. The total project investment is estimated at US$4.1 billion.

We have recently reported about several gas projects globally:

• Songon Gas-to-Power project - Ivory Coast
• Offshore Cape Three Points (OCTP) project - Ghana
• Rovuma offshore Area 1 Block LNG park - Mozambique
• Floating Storage and Regasification Unit at Mumbai Port on DBFOT - India
• Corpus Christi LNG project - USA