Oman Oil to Enter Chile Gas Market in Partnership with Enagas

Oman Oil Company SAOC, an energy company controlled by the government of Oman, plans to enter the Chilean natural gas market in partnership with Spanish energy company Enagas SA (ENGGY, ENG.MC).

The Middle Eastern company, which has held a 5% stake in Enagas since 2009, will buy a stake in GNL Quintero SA, the operator of a liquefied natural gas regasification terminal in central Chile, from Enagas, a person in the industry said.

The venture in Chile would be Oman Oil's first step in Latin America.

Enagas bought a 20% stake in GNL Quintero from BG Group PLC (BG.LN) in 2012 and plans to acquire another 20% in the coming months. The other shareholders in the LNG venture are state oil company Empresa Nacional del Petroleo SA, or Enap; Chile's largest power generator, Empresa Nacional de Electricidad SA (EOC, ENDESA.SN); and Chilean gas distributor Metrogas, each with a 20% stake.

A report in local newspaper El Mercurio Thursday said hat Oman Oil would buy 20% of GNL Quintero from Enagas.

Oman Oil didn't respond to requests for comment.

Write to Graciela Ibanez at [e-mail]