Middle East company is negotiating to enter Liquefied Natural Gas Terminal GNL Quintero
11-Sept-2012 Diario Financiero – News
Oman state-owned Oman Oil will undertake about 20% of regassing complex property:
Middle East company is negotiating to enter Liquefied Natural Gas Terminal GNL Quintero
Spanish Enagás has announced purchase of 40% of gas terminal formerly owned by BG is now negotiating with Arabian government owned company to constitute association in Chile
When Spanish Enagás announced they purchased 40% of GNL Quintero Gas Terminal formerly owned by British Gas it was explained that some of that share could be sold to a third party.
That intention could well realize in a few months because the company has been negotiating for weeks with Arabian-state-owned company Oman Oil to enter the regassing terminal located at Quintero (V Region).
Some sources close to the operation explain that Spanish company would be closing the deal for purchase of 20% of the liquefied natural gas complex for which US$176 million will be paid.
The remaining 20% will be transferred to a third party that would associate with Enagás. At this point – same sources state – the Oman government controlled company would be at a very good standing to make up the alliance and hold most of this remaining 20% of Quintero.
Both companies are closely related since 2009 when the Middle East oil producer and transport company purchased 5% of Enagás at about US$215 million. After entering the society, the company lead by the Sultan of the Arabian appointed an advisor to join the board of directors in the Spanish company.
Should the operation come to a successful end, the gas terminal would be controlled by five companies: Endesa, Enap and Metrogas (60%); besides Enagás and Oman Oil with the remaining 40%. These companies will carry out the 50% capacity regassing expansion of the complex to reach 15 million cubic meters per day production with a US$30 million investment.
When asked about negotiations status, the European company declined to refer to them because of the confidentiality clauses they are bound to. Neither did GNL Quintero refer to the issue.
