The Madrid energy team led by Hermenegildo Altozano and Alfonso Bayona and also comprising Alejandro Ruiz-Gallardón (associate Energy and Utilities Madrid) has recently advised Enagás Internacional, S.L. on the acquisition from Hunt Pipeline Company of Perú Ltd. (a joint venture among Hunt Overseas Oil Company and Repsol Exploración Perú, S.A.), for a total amount of USD 491 million. The amount represents 22% of the share capital in Transportadora de Gas del Perú S.A., a concessionaire company holding all rights and interests in the natural gas (NG) and natural gas liquids (LNG) pipelines, with a total length of 1,300 km, from the Camisea oil fields (in Amazonia) to Lima and Pisco (Peru).

The completion of the transaction is still subject to (i) the exercise or waiver of the right of first offer of the remaining shareholders in Transportadora de Gas del Perú S.A. and (ii) the exercise of certain tag-along rights from the Peruvian minority shareholders.

The acquisition represents a major milestone for Enagás, as it implies the first investment of Enagás in Peru and the fifth investment in Latin American after several other projects in Mexico and Chile.

This transaction evidences the confidence form our clients in our capabilities in Latin America and shows the expanding opportunities in this growing market.