News / Enagas acquires a 22.38% stake in Peru's gas pipeline from Repsol and Hunt

Enagas acquires a 22.38% stake in Peru's gas pipeline from Repsol and Hunt

🕔 February 10, 2014
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The ownership of a consortium that operates a Peruvian gas pipeline shifted hands Friday, as companies announced three deals put at almost $700 million. Enagás has entered into a deal with U.S.-based Hunt Oil to acquire its stake in the consortium, known as Transportadora de Gas del Perú (TgP), and it reached an agreement with energy company Repsol to acquire its 10% stake in the  consortium for about $219 million.

Enagás said the two deals are valued at $491 million, giving it a total ownership of 22.38% of TgP.

Repsol recently sold other assets in Peru as part of a broader divestment plan. Last year, it sold a minority holding in Perú LNG, which produces liquefied natural gas.

Canada Pension Plan Investment Board (CPPIB) announced several days ago that it will acquire a 10.4% equity stake in Transportadora de Gas del Perú S.A. (TgP) from Graña y Montero for a consideration of US$200 million.

TgP is the largest transporter of natural gas and natural gas liquids in Peru. TGP transports natural gas and liquids from Camisea fields inland to the Peru LNG liquefaction plant in Pampa Melchorita, 110 miles (170 kilometers) south of Lima.

The consortium includes Sonatrach of Algeria, South Korea's SK Corp., Franco-Belgian GDF Suez, -Tractebel SA, and Transportadora de Gas Internacional SA, which is a unit of Colombia's Grupo Energía de Bogotá.

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