Osaka Gas will acquire a 20% interest in Endesa’s Sagunto LNG receiving terminal in Valencia, Spain, under a new contract.
The terminal has a liquefied natural gas (LNG) regasification capacity of 6.4 million tons per annum.
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The terminal, which began operations in 2006, is set to increase its capacity to 7.6 million tons when the current expansion work is completed.
Osaka will acquire the interest through Osaka Gas UK, a wholly owned subsidiary of Osaka Gas.
Spain is Europe’s largest importer of LNG, consuming 20 million tons a year.
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By GlobalData
