BG GROUP PLC (BG.LN), the oil and gas group, said Friday that it has reached agreements with Spanish energy company Enagas SA (ENG.MC) for the sale of BG's 40% equity interest in GNL Quintero SA, the owner and operator of a liquid natural gas terminal, or LNG, in Chile, for up to $352 million.

MAIN FACTS:

-The Stock Purchase Agreement is structured in two tranches; first refers to the sale of 20% equity in GNLQ for a consideration of $176 million and second tranche refers to the sale of the remaining 20%, for an additional $176 million

-The transactions are expected to complete by the end of 2012.

-The agreements do not affect the group's 21-year contract to supply LNG to the Chilean market out to 2030.

-Shares at 0759 GMT, up 10 pence, or 0.66, at 1439 pence valuing the company at GBP48.59 billion.

-By Rory Gallivan, Dow Jones Newswires; 44-20-7842-9411; rory.gallivan@dowjones.com

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