Enagás and OMERS Infrastructure close the joint sale of their stakes in Chilean company GNL Quintero

July 22, 2022

The company presented its 2022-2030 Strategic Plan on July 12, whose priorities are security of supply from Spain and Europe and decarbonisation
This operation is part of the asset rotation process announced by the company

Enagás Internacional, through its subsidiary Enagás Chile, and OMERS Infrastructure, have closed the joint sale of their respective stakes in Chilean LNG regasification terminal, GNL Quintero, as Enagás announced in its 2022-2030 Strategic Plan presentation on July 12.

Following the fulfilment of the relevant conditions set out in the purchase agreement reached in March this year, Enagás and OMERS Infrastructure have transferred ownership of their respective stakes, which jointly represent 80% of GNL Quintero’s share capital, to a consortium formed by EIG and Fluxys.

This transaction led to the sale of Enagás’ 45.4% stake in GNL Quintero for a total of 655 million dollars, approximately 639 million euros at the current exchange rate. The sale, which will mean net capital gains for Enagás of around 135 million euros, is part of the asset rotation process announced by Enagás, whose strategic priorities are security of supply in Spain and Europe, as well as decarbonisation.

GNL Quintero is a Chilean company that owns a Liquefied Natural Gas (LNG) reception, unloading, storage and regasification terminal in the Valparaíso Region of Chile, that plays a critical role in securing a reliable supply of natural gas for the country’s central region, where most of the population lives.

Since its initial investment in the company in 2012, Enagás has contributed its experience as an industrial partner in this strategic infrastructure asset, sharing its world class operational, maintenance and sustainability standards. This has allowed GNL Quintero, together with its management and partners, to develop the terminal over the years and position it as a strategic asset for Chile’s energy security and transition.

This country is well positioned to be a global leader in the production and export of green hydrogen, and Enagás will continue to contribute to its decarbonisation process with the pursual of renewable gas projects.

Enagás is promoting the “Green Hydrogen Bahía Quintero” initiative, together with Acciona and GNL Quintero. The project envisages a facility with a nominal capacity of 10 MW to produce this clean and sustainable energy source which will contribute to the country’s decarbonisation plan and to the environmental development of the communes of Puchuncaví and Quintero, in the Valparaíso Region.