BG Group completes sale of interest in Chilean LNG terminal

Source:BG Group

BG Group completes sale of interest in Chilean LNG terminal

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.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs