BG Group today announced it had completed the previously announced transaction to sell 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 tranches, part of BG Group’s 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-tonnes-per-annum capacity regasification terminal in Quintero, Chile. The agreements do not impact the Group’s long-term contracts to supply LNG to the Chilean market.