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BG Group completes sale of interest in Quintero LNG Terminal

Sarwarzad Energy's insight:

5 September 2013


BG Group has completed the previously announced transaction to sell a second and final 20% equity interest in the Quintero LNG regasification terminal in Chile to Terminal de Valparaiso, a company majority owned by Enagas S.A. of Spain, for $176 million.


An agreement to sell BG Group's entire 40% interest in Quintero LNG to Enagas was announced in April 2012, with the transfer of an initial 20% stake completed in September 2012. The sale of the two equity tranches, part of BG Group's approach to active portfolio management, raised a combined $352 million.


The sale applies only to BG Group's shareholding in GNLQ - the owner and operator of the 2.5 million tonnes per annum capacity regasification terminal in Quintero, Chile. The agreements do not impact the Group's long-term contracts to supply LNG to the Chilean market.

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