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Updated: Fri, 31 Jan 2014 14:04:09 GMT | By The Associated Press, thecanadianpress.com

Repsol sells stake in Peru pipeline to Enagas

MADRID - Spanish energy company Repsol says it has agreed to sell its 10 per cent stake in a gas pipeline in southern Peru to Spain's Enagas SA for $219 million.


MADRID - Spanish energy company Repsol says it has agreed to sell its 10 per cent stake in a gas pipeline in southern Peru to Spain's Enagas SA for $219 million.

Repsol SA says the sale of its share in the Transportadora de Gas del Peru pipeline will net around $75 million in capital gains.

The deal will be completed in the coming months, Friday's statement says.

TGP transports natural gas and liquids from Camisea fields inland to the Peru LNG liquefaction plant in Pampa Melchorita, 110 miles (170 kilometres) south of Lima.

Repsol has said third-quarter net profits last year fell by 48 per cent because of production interruptions in Libya and narrower refining margins.

Repsol shares fell by 2.1 per cent to 3.8 euros in late afternoon trading on Spain's IBEX-35 stock exchange.

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