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Chile' s Endesa reaches agreement with BG over gas supply contract

BY GRACIELA IBANEZ

SANTIAGO -- After several months at loggerheads, Endesa and BG have agreed to a new LNG supply contract, Endesa said.

After Henry Hub prices declined sharply, BG sought to renegotiate the conditions on long-term LNG supply contracts signed in 2007 with Endesa, state oil company, Enap, and Metrogas.

In a statement, the power producer said the gas deal will help the development of new gas-fired projects in central Chile.

Under the new 20-year deal, BG will sell an undisclosed contracted volume at $8 a MMBtu. Any additional gas over the contracted volume will be sold at $11 per MMBtu, local Diario Financiero reported citing undisclosed sources.

Dow Jones Newswires

06/06/2013

 

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