Fluxys and EIG jointly buy 80 percent of Chilean LNG terminal
A consortium formed by Belgian gas infrastructure company Fluxys and investor EIG is taking over 80 percent of shares in the Chilean LNG terminal GNL Quintero. Fluxys announced this on Monday. The Chilean government already had an existing agreement with the Flemish ports of Antwerp and Zeebrugge for intensive cooperation on green energy flows between Chile and Western Europe.
Fluxys and EIG are taking over the stake of energy company Enagas Chile and subsidiaries of Canadian infrastructure investor OMERS Infrastructure. According to financial news agency Bloomberg, Enagas agreed to sell its 45,4 percent stake for 661 million dollars (603 million euros).
Quintero has been in operation since 2009 and is the largest terminal in Chile for receiving, discharging, storing and regasifying LNG, according to Fluxys. “The terminal is strategically located in Quintero Bay and serves a diversified market in central Chile with households, businesses, industry, transportation and power generation among its customers”, the Belgian gas infrastructure company said in a press release.
“The terminal is strategically located in Quintero Bay and serves a diversified market in central Chile with households, businesses, industry, transportation and power generation among its customers”
Fluxys describes the partnership as a future-oriented investment which allows the company to set foot in a Latin American country where energy transition is high on the government’s agenda. Chile wants to produce the cheapest green hydrogen in the world, the company says. Chile aims to become one of the world's top three producers of green hydrogen. The country has an agreement with the ports of Antwerp and Zeebrugge for intensive cooperation on green energy flows between Chile and Western Europe.
The transaction is expected to be completed in the second half of 2022. The precise conditions of the transaction have not been disclosed.
Photo © BELGA: Illustration shows the current LNG Fluxys terminal in Zeebrugge harbour, Tuesday 08 March 2022