Enagas Expands Share Acquisitions in Spain and Chile

Enagas Expands Share Acquisitions in Spain and Chile

Spanish gas grid operator Enagas announces increasing  its stakes in two regasification plants in Spain and in Chile, according to Kallanish Energy.

According to Natural Gas Europe, the company has increased its stake in the southeast Spanish LNG terminal at  Sagunto to 72.5% when it bought 42.5% stake from Union Fenosa Gas (UFG) for $118.07m. UFG is a 50-50 joint venture between Italy’s Eni and Spain’s Gas Natural Fenosa (GNF).

The source added that Enagas has also increase its stake in the Chilean Quintero LNG terminal to 60.4%. The company already held 20.4% in the terminal before it agreed to buy a further 20% stake from Endesa Chile, in early June 2016, for $200m. Most recently, Enagas has agreed to buy out an additional 20% stake from a GNF-controlled company for the same price. Both deals are subject to pre-emption.


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