Spanish LNG terminal operator Reganosa has agreed to purchase a 25 percent stake in the El Musel LNG terminal in Gijon from compatriot Enagas.
The two firms said in a statement on Tuesday that Enagas has acquired a network of 130 km of natural gas pipelines from Reganosa for 54 million euros ($57.2 million), while Reganosa bought the stake in the LNG terminal for 95 million euros ($100.7 million).
In addition, Reganosa has given Enagas its position as promoter of the hydrogen pipeline between Guitiriz (Lugo) and Zamora.
According to the statement, the deal between the firms remains subject to approvals and suspensive conditions of such operations.
This network of pipelines is key to guarantee the security of supply as well as the proper functioning of the Iberian gas market, they said.
It connects to Reganosa’s Mugardos LNG terminal, and the Tui-Llanera gas pipeline in Guitiriz and Abegondo.
As per the El Musel LNG plant, Enagas currently owns 100 percent in the facility which has a storage capacity of 300,000 cbm of LNG, divided into two tanks.
It also has berthing and unloading facilities designed for the largest LNG carriers with a capacity of up to 266,000 cbm.
This facility has been in hibernation since its completion in 2013, but Enagas plans to launch the facility as a logistical hub which could contribute up to 8 bcm of LNG capacity per year to the security of supply in Europe.
In July last year, the terminal received the administrative authorization from the Ministry for the Ecological Transition and the Demographic Challenge.
“The El Musel terminal, as contemplated in the Government’s Plan for More Energy Security, is ready to be put into operation for logistical use soon, once the current administrative procedures are completed,” the statement said.