Enagás signs an agreement to raise stake in Transportadora de Gas del Perú (TgP) from 20% to 24.34%

02 June 2015

• Company reaches agreement to acquire 3.94% from SK Innovation CO, LTD and 0,40% to Corporación Financiera de Inversiones (CFI)

• Enagás becomes TgP’s second largest shareholder

Enagás has reached an agreement to acquire 3.94% of Transportadora de Gas del Perú (TgP) from SK Innovation CO, LTD and 0.40% to Corporación Financiera de Inversiones (CFI), for a total amount of 97 million dollars. Following this transaction, which is subject to the related approvals from regulatory authorities and to the possible exercise of the Right of First Refusal by other shareholders, Enagás will become TgP's second largest shareholder with a 24.34% stake.

Enagás in Peru
This agreement consolidates Enagás positioning in Peru as a strategic operator and reinforces its long-term commitment to the country. Enagás will support the development of projects that help to strengthen the security of energy supply in growing countries with stable regulatory frameworks like Peru.

Enagás has been present in Peru since 2014 when it acquired a 20% stake in Transportadora de Gas del Perú (TgP) and 30% of Compañía Operadora de Gas del Amazonas (Coga), the company which operates and maintains TgP's transmission system. The same year the Peruvian government awarded Enagás (25%) and Odebrecht (75%) of Brazil the contract to construct Latin America's largest energy infrastructure over the coming years, namely the Gasoducto Sur Peruano. Construction began in 21st May 2015.

Besides Peru, the company is present in Latin America in Mexico and Chile, where it has stakes in the gasification plants of TLA Altamira (Mexico) and GNL Quintero (Chile).  It belongs also to the joint ventures awarded two main gas infrastructures in Mexico: Pipeline of Morelos and Compressor Station of Soto La Marina.

TgP
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.

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