Vopak, Enagas acquire Mexico LNG terminal for $408m

14 September 2011 10:13  [Source: ICIS news]

SINGAPORE (ICIS)--Dutch logistics firm Vopak and Spanish firm Enagas have completed the acquisition of a liquefied natural gas (LNG) import and re-gasification terminal at Altamira in Mexico for $408m (€297.8m), the two firms said on Wednesday.

Vopak and Enagas formed a 60:40 joint venture firm for the acquisition. The deal was announced on 2 June this year.

“The joint venture has taken over the operational management of the terminal with immediate effect after having been granted the required government approvals recently,” Vopak and Enagas said in a statement.

Dutch oil major Shell had a 50% share in the Mexican LNG terminal, while the balance was equally held by French oil major Total and Japanese firm Mitsui, the statement said.

The LNG terminal consists of two operational tanks of 150,000 cubic metres (cbm) each and a jetty that can receive LNG vessels with a capacity of up to 216,000cbm. The terminal has been operational since 2006, Vopak said.

The terminal has a throughput capacity of 7.4bn cubic metres per annum and can be expanded to 10bn cubic metres per annum by building a third tank, it added.

($1 = €0.73)

By: Nurluqman Suratman

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