Enagas increases stake in two LNG facilities

Enagas increases stake in two LNG facilities

Spanish LNG terminal operator Enagas on Thursday said it has agreed to up its stake in the Sagunto regasification plant in Spain and the GNL Quintero facility in Chile.

According to the company’s statement, the company has agreed to acquire, through its unit Enagás Transporte, Union Fenosa Gas’ 42.5 percent stake in the 7.6 mtpa Sagunto regasification plant for €106 million.

Once the transaction, that is subject to regulatory approvals, is complete, Enagas share in the Sagunto LNG plant will increase to 72.5 percent, becoming the largest stake owner in the facility. Oman Oil Company owns a 7.5 percent stake while the remaining 20 percent is owned by Osaka Gas.

In addition to its recent agreement to acquire 20 percent stake in the GNL Quintero from Endesa Chile, Enagas has agreed to purchase the entire shareholding of the Aprovisadora Global de Energia, the spinoff of Metrogas and in which Gas Natural Fenosa holds the majority stake.

Under the agreement, Enagas would purchase the 20 percent stake for US$200 million, which, once both transactions are complete, would up the company’s stake in the Chilean LNG terminal to 60.4 percent.

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