UK-based BG Group on Friday agreed to sell its 40% equity
interest in the GNL Quintero (GNLQ) liquefied natural gas (LNG)
terminal to Spain-based Enagas.
The deal, worth up to $352 million, is expected to close by
the end of 2012.
The agreements reached apply to BG Group's shareholding in
GNLQ - the owner and operator of the 2.5 million tpy
regasification terminal in Quintero, Chile.
The deal does not impact BGs 21-year contract to
supply up to 1.7 million tpy of LNG to the Chilean market out
to 2030, the company said.
"The agreement reached today is another important milestone
in the successful execution of BG Group's funding
diversification and portfolio rationalization programme,
said BG Group CEO Sir Frank Chapman.
"BG Group was instrumental in delivering the GNLQ facility -
the first onshore regasification terminal to operate in the
southern hemisphere - and we will continue to be a key supplier
of LNG into this important, counter-seasonal energy
market, he added.