BG sells stake in Chilean LNG terminal to Enagás
BG Group on Friday completed the previously-announced sale of a second and final 20% equity interest in the Quintero LNG regasification terminal in Chile to Terminal de Va lparaiso, a company majority owned by Enagás S.A. of Spain, for $176 million.
An agreement to sell BG Groups entire 40% interest in Quintero LNG to Enagás was announced in April 2012, with the transfer of an initial 20% stake completed in September 2012.
The sale of the two equity stakes, part of what BG Group says is an approach to active portfolio management, raised a combined $352 million.
The sale applies only to BG Groups shareholding in GNLQ, the owner and operator of the 2.5 million-tpy capacity regasification terminal in Quintero, Chile.
The agreements do not impact BG's long-term contracts to supply LNG to the Chilean market, according to the company.
From the Archive