Vopak and Enagas in swoop for Altamira LNG
Vopak of the Netherlands and Spain's Enagas have purchased Altamira LNG, Mexico's only east coast import terminal, writes Eric Martin.
Shell currently owns half of the facility with France's Total and Mitsui of Japan each holding 25% stakes. At the deal's close, Vopak will own 60% of a joint venture set up to operate the 7.4 billion cubic metres per annum terminal with Enagas taking the rest.
The purchase would be a first international LNG terminal foray for Enagas, the privatised Spanish gas grid operator that fully owns three import facilities in its home country and is partowner of a fourth.
The company is also building a terminal at El Musel in northern Spain. Vopak, meanwhile, is a chemical and oil terminal operator that has been developing an LNG terminal portfolio.
Its part-owned Gate LNG facility in Rotterdam is set to open for business in the coming months and a French terminal project is under development.
The companies will take over operations of Altamira in the third quarter of this year, Vopak said.
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