Madrid energy team advises Enagás on its joint venture with Oman Oil Company for the joint acquisition of 40% in LNG terminal in Chile

10 September 2013

The Madrid energy team led by Hermenegildo Altozano (partner Energy and Utilities Madrid) and also comprising Alfonso Bayona (Counsel Energy and Utilities Madrid) has recently advised Enagás Internacional, S.L., Enagás, S.A. and Oman Oil Company S.A.O.C. on the incorporation of a Chilean joint venture (in which Enagás shall hold 51% of the shares) for the acquisition of a 40% interest stake in the company GNL Quintero S.A. holding all rights and interests in the LNG terminal of Quintero (Chile).

This $175 million transaction represents a major milestone in the recent developments of the Chilean natural gas sector and the first investment of Oman Oil Company in Chile.

Enagás is the sole natural gas transmission system operator and currently operates more than 10,000 kilometres of gas pipelines and up to 6 regasification terminals in Spain, along with 2 natural gas underground storage facilities and having a yearly EBITDA of approximately EUR 900 million.

Oman Oil Company is a wholly-owned company of the Sultanate of Oman with a diversified energy portfolio including a significant stake in Enagás, S.A. (in which Oman Oil holds 5% of the share capital).