Industry News
EIG and Fluxys To Acquire 80% Stake in Chile’s GNL Quintero
28 March 2022
EIG and Fluxys agreed to acquire an 80% stake in Chile-based regasification terminal GNL Quintero from Enagas and Omers for USD661m.
(Offshore Energy) EIG and Fluxys will acquire these stakes from Enagas Chile and affiliates of OMERS Infrastructure. The terms of the transaction remain undisclosed.
Quintero is a key energy infrastructure business supporting Chile’s decarbonisation strategy. Operational since 2009, Quintero LNG is the largest terminal for receiving and unloading LNG in Chile. In addition, it is the largest for its storage and regasification capacities.
The terminal’s location in Quintero Bay supplies a diversified base of customers in central Chile.
ThGNL Quintero owns 75 per cent of the country´s LNG regasification capacity. In 2021, 67 per cent of the total natural gas imports arrived in Chile through this strategic asset.
It has a daily regasification capacity of 15 million cubic metres; an LNG storage capacity of 334,000 cubus metres; and 2,500 cubic metres per day of truck loading capacity.
The acquisition builds on EIG’s presence in the Chilean market. The firm owns Cerro Dominador solar complex. EIG also is a partner in AME, a Chile-based project developer. AME co-owns HIF Global, a leader in the hydrogen and e-fuels sector.
“We are thrilled by the opportunity to invest in Quintero, a company that aligns perfectly with our focus on strategic, high-quality infrastructure that is critical to the region it serves and yields attractive, contracted cash flows,” said R. Blair Thomas, EIG’s CEO. “Quintero’s strong presence in natural gas infrastructure serves as an attractive launching point to expand its presence in related and adjacent sectors, including storage, truck loading and regasification, as well as to develop production capacity for green hydrogen.”
The transaction is to close in the second half of 2022.
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