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

08 November 2016

• The company has finalised the 20% acquisition announced on 30 June
• Enagás will globally consolidate GNL Quintero from 1 January 2017 as a result of the shareholders' agreement

Enagás, through its subsidiary Enagás Chile, has finalised 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 197 million dollars (approximately 175 million euros).

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%.

With this increased stake for Enagás in the terminal, the company has reinforced its long term commitment towards Chile. For Enagás, the development and future growth of GNL Quintero is a priority, as it is a fundamental infrastructure for the security of energy supply in the country.This transaction, concluded today, fits into the company's core business and its target profitability and debt-level figures.

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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