EIG, Fluxys Partner to Jointly Acquire 80% Stake in Largest LNG Regasification Terminal in Chile

EIG and Fluxys announced that they jointly will acquire an 80% equity stake in GNL Quintero S.A., the largest liquefied natural gas (LNG) regasification terminal in Chile, from Enagas Chile SpA and affiliates of OMERS Infrastructure. Terms of the transaction were not disclosed.

Quintero is a key energy infrastructure business supporting Chile’s decarbonization strategy with a bridging fuel that allows for the reconciliation of economic growth with the uptake of renewables and the phasing out of coal. Operational since 2009, Quintero is the largest terminal for receiving and unloading LNG in Chile, as well as for its storage and regasification capacities.

The terminal benefits from its strategic location in Quintero Bay, supplying a diversified base of customers in central Chile across residential, commercial, industrial, transportation and power generation sectors.

The terminal owns 75% of the country´s LNG regasification capacity and in 2021, 67% of the total natural gas imports (both LNG and pipeline imports) arrived in Chile through this strategic asset. With a daily regasification capacity of 15 million m³, an LNG storage capacity of 334,000 m³ and 2,500 m³ per day of truck loading capacity, the terminal is a reliable supplier of natural gas that contributes to Chile’s energy diversification and security.

Chile has world-class solar and wind resources and a RES capacity equivalent to 4% of total global energy demand. The country is aiming to become one of the world’s three largest green hydrogen producers with plans to install 200 GW of renewable power by 2040 to produce green hydrogen.

Chile already has signed several agreements to promote the export of green hydrogen, among others with the Belgian ports of Antwerp/Zeebrugge, Germany, the Port of Rotterdam and South Korea.