Repsol sells stake in Peru pipeline to Enagas

AP News
Posted: Jan 31, 2014 1:04 PM

MADRID (AP) — Spanish energy company Repsol says it has agreed to sell its 10 percent 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 kilometers) south of Lima.

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

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