Endesa Chile, the Chilean subsidiary of Italian energy group Enel, has reached an agreement with its partner Enagas, the Spanish gas transmission network operator, to sell Enagas its 20% direct stake in the Quintero LNG terminal in Chile.
The sale was announced in May 2016 by Enel, which aims to sell €6bn of assets by 2019. The 5.5 bcm/year regasification terminal, located in the Bay of Quintero, has been in operation since 2009. It has 3 tanks with overall storage capacity of 334,000 m³ and docking facilities for methane tankers for up to 265,000 m³ of LNG. The terminal is also planning to expand with the construction of a third LNG storage tank with 160,000 m3 capacity and increase its regasification capacity to 7.3 bcm/year.
Enagas has been a shareholder in the terminal since 2012, through a 20.4% indirect stake in Terminal de Valparaiso (51% Enagas Chile and 49% Oman Oil), which owns 40% of the facility. The acquisition of this 20% stake will raise its total interest in the facility to 40.4%. ENAP and Metrogas each own 20% in the terminal.