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 Group’s 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 Group’s 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.

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