Spanish gas transmission company Enagas SA (ENG.MC) Friday said it has agreed to acquire U.K. gas major BG Group PLC's (BG.LN) 40% stake in the GNL Quintero natural gas regasification terminal in Chile.

The deal will be executed in two tranches valued at EUR136 million each, or EUR272 million in total. Enagas said the second tranche may be acquired in conjunction with a partner such that the 40% stake would be 51% owned by Enagas and the remaining 49% owned by an undisclosed third party.

GNL Quintero is 20% owned by Chile's state-owned oil company ENAP, 20% owned by Endesa Chile, a unit of Spanish utility Endesa SA (ELE.MC), and 20% owned by Metrogas, Chile's largest gas distributor.

The regasification plant is located in the Bay of Quintero, Chile and has been operating since 2011. The plant has a storage capacity of 330,000 cubic meters and regasification capacity of about 3.4 billion cubic meters of natural gas a year.

Enagas said the purchase fits with its strategic plan of purchasing assets that are core to its business. Enagas "has been studying such acquisitions provided they fit with the levels of profitability and indebtedness under [its] Strategic Plan."

-By Alex MacDonald, Dow Jones Newswires; +44 (0)7776 200 924 alex.macdonald@dowjones.com

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