LNG

July 21 (LNGJ) - Fluxys, the Belgian utility company and grid and Zeebrugge LNG terminal owner, has completed its acquisition with EIG Global Energy Partners of 80 percent of the shares in the Quintero LNG import terminal in Chile from Spanish grid and terminals operator Enagás and OMERS Infrastructure, the Toronto-based Canadian fund.

   “GNL Quintero, strategically located in Quintero Bay and operational since 2009, is the largest liquefied natural gas regasification terminal in Chile. It is a solid fit with Fluxys’ strategy to develop outside Europe in a country where energy transition stands high on the agenda,” said Fluxys.

The South American nation of Chile has imported 2.23 million tonnes of LNG during the first 10 months of the year, down 5.7 percent on the same period of 2018 as pipeline gas supplies from Argentina have provided competition.

Enagas, the Spanish gas network owner and LNG terminal operator, posted a more than 7 percent drop in first-quarter revenues as it reported progress on the Trans Adriatic Pipeline connecting Turkey with Italy via Greece and Albania and reflected on a US acquisition.

Enagas, the Spanish natural gas network and LNG terminal owner, has entered the US energy infrastructure market by investing in Tallgrass Energy, whose assets include 11,000 kilometres of transmission pipelines.

The Spanish company said the transaction is part of its strategy to invest in core business assets in growth markets on an international basis alongside strategic partners.

Enagas, which already has investments in LNG import terminals on the American continent, at Altamira in Mexico and Quintero in Chile, has entered into an agreement with the equity funds, Blackstone of the US and GIC of Singapore, to invest $590 million for a 10.93 percent indirect ownership interest in Tallgrass Energy.

Tallgrass, based in Leawood in the Midwest state of Kansas, has assets including the Rockies Express Pipeline, one of the largest US pipelines that is being transformed into the nation’s northernmost bi-directional natural gas gathering system.

Enagas explained that its investment is in the holding company that owns 100 percent of TGE’s general partner, as well as 43.91 percent of the economic interests in TGE .

The investment is structured so that Blackstone retains a majority stake, GIC has a minority shareholding, as does Enagas with 24.90 percent of the holding company.

Following the closing of the transaction, Enagas has agreed to acquire an additional 3.52 percent of the holding company for around $83M, subject to completion of certain conditions. The Spanish company has also agreed to future investments of up to $300M in TGE.

“As an industrial partner, Enagas will have a seat on the company's Board of Directors, contributing its know-how in operating and developing energy infrastructure,” said Enagas.

Enagas has four domestic LNG import terminals around Spain at Barcelona in the northeast, Cartagena in the southeast, Huelva in the southwest and Gijon in the northwest.

It also owns a 50 percent stake in the facility serving the northwest city of Bilbao.

Other investments held by Enagas include its stake in Trans Adriatic Pipeline, part of Europe’s Southern Gas Corridor.

It is also part of a European gas grid group that acquired control of the Greek natural gas transmission operator DESFA.

“Enagas embarked on its internationalisation in 2011 as a part of an ongoing strategy with two main objectives, maintaining the maximum efficiency and security in the operation of the Spanish gas system, and to continue expanding as a company,” it said.

“This international expansion also helps drive the business of other Spanish industrial companies related to the energy sector,” added Enagas.

“This acquisition allows Enagas to unlock the value of its vast experience in developing and operating gas infrastructure and strengthen its position as industry leader and expert,” stated the company.

Wallace Henderson, Senior Managing Director in Blackstone Infrastructure Partners, said he was delighted Enagas had joined the investment consortium.

“With extensive midstream operations around the world, they bring valuable perspectives to Tallgrass that will benefit our investment and we look forward to their contributions,” added Henderson.

Feb 20 (LNGJ) - Enagas, the Spanish natural gas transmission company that controls most of the nation’s LNG import terminals and has other assets in South America and elsewhere, posted net profits of 490.8 million euros ($606.4M) in 2017. The profits were 17.6 percent higher than in the previous year because of the full integration of its increased stake in the Chilean LNG import terminal company, GNL Quintero. Enagas said its earnings performance was helped by the third consecutive year of increased natural gas demand in Spain, reaching 351 terawatt hours in 2017.

One of the largest pension funds in Canada has agreed to acquire more than a third of the shares in the main LNG import terminal in South America, the GNL Quintero facility in Chile.

Feb 20 (LNGJ) - The 210,100 cubic metres capacity Q-Flex vessel “Al Ghariya” is scheduled to deliver a cargo from Qatar on February 21 to the French Fos Cavaou import terminal near the city of Marseilles, according to shipping data. The 145,000 cubic metres capacity carrier “Methane Heather Sally”, operated by GasLog, is unloading a cargo from Trinidad at the Quintero import terminal in Chile.

Spanish natural gas network and LNG terminal operator Enagas has closed the acquisition of 20 percent of the Chilean import terminal company GNL Quintero from a subsidiary of Gas Natural Fenosa and has made a pledge of commitment to keep the South American nation supplied as the facility expands.

Gas Natural Fenosa, the Spanish utility and natural gas and LNG player, said net profit dropped but still amounted to just over $1 billion in the first nine months of 2016 as it restructured some businesses.