Enagas announced on Wednesday that it reached an agreement to acquire Osaka Gas’s 20 percent stake in the Saggas regasification plant in Sagunto, near Valencia, for 31 million euros ($35.4 million).
Following the completion of the transaction, Enagas will hold 92.5 percent of the LNG import facility in the Mediterranean, while Oman Oil Holdings Spain will retain the remaining 7.5 percent.
Enagas noted that this transaction, which is expected to close before the end of 2026, remains subject to obtaining regulatory approvals.
The Sagunto plant has an LNG storage capacity of 600,000 cbm and a regasification capacity of 1,000,000 Nm³/h, equivalent to 18 percent and 15 percent of the total in Spain, respectively, according to Enagas.
Last year, the Sagunto LNG terminal received its 1,000th LNG cargo since it began commercial operations in 2006.
The plant has received LNG from at least 21 different countries, with the main suppliers being Algeria, Nigeria, and the US.
Enagas operates a large network of gas pipelines in Spain and has three wholly-owned LNG import plants in Barcelona, Huelva, and Cartagena.
It also owns 75 percent of the Musel LNG facility, 50 percent of the BBG regasification plant in Bilbao, while Reganosa operates the Mugardos plant.