The joint venture of Vopak (60%) and Enagas (40%) completed the previously announced acquisition of the LNG storage and regasification terminal in Altamira. The jointly controlled entity has acquired 100% of the shares in the terminal from Shell (50%), Total (25%) and Mitsui (25%) for $408m. The completion of the transaction follows the announcement on 2 June 2011 by Vopak and Enagas. The joint venture has taken over operational management of the terminal with immediate effect after having been granted the required government approvals recently.
The LNG terminal in Altamira will continue to facilitate overseas LNG imports and supply of gas into Mexico and has been operational since 2006 under the highest safety and technical standards applicable for the LNG industry. The terminal consists of 2 fully operational tanks of 150,000 cubic meters (cm) each and a jetty capable of receiving LNG vessels with a capacity of up to 216,000 cm. The terminal has a throughput capacity of 7.4 bcm/year, which is fully contracted for a long-term period. The capacity can be expanded up to 10 bcm/year by building and operating a third tank.